Great Clips Leases Mixed-Use Space In Cleveland From F6 Properties
429 W Southline St, Cleveland, TX, 77...
Building Size
1,509 SF
Asset Type
Mixed-use
Closing
Nov 20, 2023
About this deal
AI
The retail property at 429 W Southline St in Cleveland, TX has been leased by Great Clips, spanning 1,509 square feet. The landlord, F6 Properties Ltd, was represented by Kevin Sims and Nick Ramsey of NewQuest Properties, while the tenant was represented by Marshall Bumpus of Wellspring Commercial Real Estate.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not provided
- Tenant: Great Clips
- Landlord: F6 Properties Ltd
- Square Feet: 1,509
- Tenant's Rep: Marshall Bumpus (Wellspring Commercial Real Estate)
- Landlord's Rep: Nick Ramsey (NewQuest Properties)
The lease deal involved key representatives Marshall Bumpus from Wellspring Commercial Real Estate as the tenant's representative. On the landlord's side, Nick Ramsey from NewQuest Properties facilitated the transaction, alongside Kevin Sims. The property, located in the market of Cleveland, showcases the continual activity in the area's mixed-use assets.
On the Map
Mixed-use
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Players
Cleveland Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease 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