Culberson Contractors Acquires Land In Alvin From East Bay Partners Ltd
Building Size
55,000 SF
Asset Type
Land
Closing
Feb 16, 2024
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