Cushman & Wakefield Brokers Handle Sale Of Mixed-Use Property In Houston
3275 West Alabama St, Houston,Texas
Building Size
7,225 SF
Asset Type
Mixed-use
Closing
Oct 5, 2022
About this deal
AI
An exclusive mixed-use property located at 3275 West Alabama St. in Houston has recently been sold. The property spans a total square footage of 7,225 and has a building square footage of 17,472. This transaction took place on October 5, 2022, and was facilitated by the real estate brokers Eric H. Lestin and Michael Burgower from Cushman & Wakefield.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not specified
- Market: Houston
- Square Footage: 7,225
- Building Square Footage: 17,472
The property at 3275 West Alabama St. in Houston was successfully transacted, representing an opportunity for mixed-use development in the area. The deal was expertly managed by Eric H. Lestin and Michael Burgower, who played a pivotal role as brokers from Cushman & Wakefield. Their expertise and negotiation skills ensured a smooth and successful transaction for both the buyer and seller involved.
Players
Houston Mixed-use Market Snapshot
Boundary boundary · Mixed-use · 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