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3275 West Alabama St, Houst...

Updated Dec 21, 2023

Cushman & Wakefield Brokers Handle Sale Of Mixed-Use Property In Houston
SOLDMixed-use

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

Eric H. Lestin

Cushman & Wakefield

Broker

1 deal

Broker

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

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