Mpire Real Estate Group Acquires 29.37 Acres Of Land In Friendswood From Baham Interests
FM 2351 Friendswood, TX, USA
Building Size
—
Asset Type
Land
Closing
Jul 18, 2023
About this deal
AI
Colliers has recently completed the sale of approximately 29.37 acres of land in Friendswood, Texas. This vast piece of land is situated along FM 2351 and offers a prime location in close proximity to the Timber Creek Golf Club.
Summary of transaction details
- Property Type: Land
- Transaction Amount: Not specified
- Address: FM 2351, Friendswood, Texas
- Market: Friendswood
- Acres: 29.37
- Buyer: Pratik Gandhi - Mpire Real Estate Group
- Seller: Baham Interests
- Brokers: Kelly Hutchinson & Charles Herder - Colliers
The buyer in this transaction is Pratik Gandhi, representing Mpire Real Estate Group. Their specific plans for the property have not been announced at this time.
Players
Texas 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