Security Service Federal Credit Union Provides $3.6M Acquisition Loan For Mixed-Use Property In Corpus Christi, TX
1533 Holly Road, Corpus Christi, Texas 78417, United States
$3,600,000
$454/SF
Building Size
7,930 SF
Asset Type
Mixed-use
Closing
Dec 16, 2021
AI
Located at 1533 Holly Road in Corpus Christi, TX, this mixed-use property spans across 7,930 square feet. The transaction, which took place on December 16, 2021, involved an acquisition loan provided by Security Service Federal Credit Union.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $3,600,000
- Loan Type: Acquisition loan
- Loan Terms: 3.40%, 75% LTP
- Lender: Security Service Federal Credit Union
- Brokers: Alex Dobosh KSRealEstateAdvisors
The property, which is currently occupied by DaVita Dialysis under an Absolute Triple-Net Lease, was facilitated by Alex Dobosh of KSRealEstateAdvisors.
Players
Corpus Christi Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93