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Walter Morris Purchases Retail Property At 101 Lincoln Street From Jhonny Mercado For $2.09M

Property Image
SOLD
$2,090,000
Ricardo Esteves
Gabriel Britti
+ 1

Texas

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Retail2,555 SF
Sold 12/03/2024
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Property Image
SOLD

Walter Morris Purchases Retail Property At 101 Lincoln Street From Jhonny Mercado For $2.09M

101 Lincoln Street

See Similar Deals
Retail2,555 SF
Sold 12/03/2024
Ricardo Esteves
Gabriel Britti
+ 1
Contact now

Summary

TEXAS
Asset Type:Retail
Price Per Square Foot:$818
Total Square Footage:2,555 SF
Transaction Type:Sale

The property asset involved in this transaction is a retail space located at 101 Lincoln Street in Pecos. The sale price was $2,090,000, and the space has an area of 2,555 square feet, resulting in a price per square foot of $818. The property has a cap rate of 5.50%.

Summary of transaction details:

The key individuals involved in this deal include buyer Walter Morris and seller Jhonny Mercado. The transaction was facilitated by brokers Ronnie Issenberg, Gabriel Britti, Ricardo Esteves, and Kevin Foo, who represent Marcus & Millichap in the deal.

Players

Gabriel Britti
70 deals$502.2M volume(786) 522-7017
BROKER

Ricardo Esteves
Marcus & Millichap
60 deals$419.6M volume(786) 522-7054
BROKER

Ronnie Issenberg
Marcus & Millichap
71 deals$509.2M volume(786) 522-7013
BROKER

Kevin Foo
Marcus & Millichap
3 deals$13.4M volume(786) 522-7075
BROKER

Details

SOLD
IMAGE: Ronnie Issenberg, Gabriel Britti, Ricardo Esteves & Kevin Foo DATE: 12/03/2024 ADDRESS: 101 Lincoln Street MARKET: Pecos ASSET TYPE: Retail BUYER: Walter Morris SELLER: Jhonny Mercado BROKERS: Ronnie Issenberg (@RonIssenberg), Gabriel Britti (@Gabriel.Britti), Ricardo Esteves (@Ricardo_Esteves) & Kevin Foo (@Kevin.Foo) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $2,090,000 SF: 2,555 ~ PPSF: $818 CAP RATE: 5.50%

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$111,466.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,425.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,907.67
Annual Debt Service$118,892.00