Mark Repstad Of Southland Commercial Real Estate And John Repstad Of Realty Advisory Group Represent Buyer In Lubbock Sale For $8.9M
SOLD
$8,900,000
Texas
See Similar DealsIndustrial72,286 SF
Sold
SOLD
Mark Repstad Of Southland Commercial Real Estate And John Repstad Of Realty Advisory Group Represent Buyer In Lubbock Sale For $8.9M
7275 Sycamore Canyon BLVD, Riversi...
See Similar DealsIndustrial72,286 SF
Sold
Summary
TEXAS
Asset Type:Industrial
Price Per Square Foot:$123
Total Square Footage:72286 SF
Transaction Type:Sale
The property involved in this transaction is a single-tenant industrial facility located at 7275 Sycamore Canyon Blvd, Riverside, in the Lubbock market. It was sold for a price of $8,900,000. The facility spans 75,286 square feet and is situated on 4.3 acres. Notable characteristics include 28-foot clear heights, 10 dock-high positions, and future divisibility. At the time of the sale, the property was fully leased to a Fortune 200 tenant.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $8,900,000.00
- Address: 7275 Sycamore Canyon Blvd, Riverside
- Square Footage: 75,286
- Market: Lubbock
- Buyer's Representative: Mark Repstad (Southland Commercial Real Estate), John Repstad (Realty Advisory Group)
- Buyer: Unknown
- Seller: Unknown
John Repstad and Mark Repstad of Realty Advisory Group represented both the seller and the undisclosed buyer in this transaction. The deal highlights the collaboration of prominent brokers in the real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$474,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,619.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,190.54
Annual Debt Service$506,286.49
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