First Street Interests LLC Acquires Retail Property In Lufkin, TX From ARD Lufkin LLC
103 North Brentwood Drive, Lufkin, TX 75904
Building Size
18,750 SF
Asset Type
Retail
Closing
Dec 14, 2021
About this deal
AI
A retail property located at 103 N Brentwood Dr in Lufkin, TX has been sold. The property spans 18,750 square feet and was recently purchased by First Street Interests LLC from ARD Lufkin LLC.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 103 N Brentwood Dr, Lufkin, TX
- Market: Lufkin, TX
- Square Footage: 18,750 SF
Kirk Searcy, a representative from Colliers, brokered the deal. The property is fully stabilized and is situated in close proximity to Walmart and Sam's Club, providing a desirable location for retailers. The availability of this asset attracted several out-of-state investors, with multiple offers being generated shortly after its introduction to the market. Ultimately, the property was sold to a local buyer who demonstrated strong qualifications, offering an all-cash deal and a quick closing.
Players
Lufkin Retail Market Snapshot
Boundary boundary · Retail · 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