Culberson Contractors Acquires Land In Alvin From East Bay Partners Ltd
Building Size
55,000 SF
Asset Type
Land
Closing
Feb 16, 2024
About this deal
AI
The property involved in the transaction is a 12.6-acre land located at 2500 South Bypass 35 in Alvin. The land will be the site for a new 55,000-square-foot store to be opened by Murdoch’s Ranch & Home Supply, positioned 30 miles south of Houston.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: Not specified
- Buyer: Culberson Contractors
- Seller: East Bay Partners Ltd
- Buyer's Rep: Danny Elliott & Thomas Tyng - CBRE
- Seller's Rep: Alex Makris & Patrick Keegan - Partners Real Estate
Culberson Contractors, represented by Danny Elliott & Thomas Tyng from CBRE, purchased the 12.6-acre land for the development of the new store. On the other side, East Bay Partners Ltd was the seller, with their representation handled by Alex Makris & Patrick Keegan from Partners Real Estate.
Players
Market Land Market Snapshot
Boundary boundary · Land · 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