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429 W Southline St, Clevela...

Great Clips Leases Mixed-Use Space In Cleveland From F6 Properties
LEASEDMixed-use

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

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.

Players

Nick Ramsey

NewQuest Properties

Broker

10 deals

Broker
GC
Great ClipsTenant

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