American Friction Inc. Acquires Industrial Building On US Route 59 In Cleveland
699 US Route 59
Building Size
14,800 SF
Asset Type
Industrial
Closing
Jan 8, 2024
AI
A 14,800-square-foot industrial building on 17.7 acres in Cleveland, Texas has been sold. The property, located at 699 US Highway 59 S., was constructed in 2007 and features 24-foot clear heights. Partners Real Estate brokered the sale, with Wyatt Huff and Hunter Stockard representing the seller and occupant, and Paul Compton representing the buyer.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 699 US Highway 59 S.
- Market: Cleveland
- Square Footage: 14,800
- Acres: 17.7
The buyer, American Friction Inc., was represented by Paul Compton from JLA Realty, while the seller, Rakesales, was represented by Belinda Humbert from Partners Real Estate.
Players
Cleveland Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93