facebook

traded

+ Submit
Home

/

Deals

/

Texas

/

Retail

/

Sale

/

10620 East Northwest Highway

Noori Abdulghani Of Linhope Companies Acquires Retail Site From Johny Kenny In Dallas
SOLDRetail

Noori Abdulghani Of Linhope Companies Acquires Retail Site From Johny Kenny In Dallas

10620 East Northwest Highway

Building Size

19,000 SF

Asset Type

Retail

Closing

Jun 21, 2024

AI

The property involved in this transaction is a retail asset located at 10620 East Northwest Highway in Dallas. The site encompasses 19,000 square feet on 1.15 acres. Previously home to various businesses including Hollywood Video, Dollar General, and a furniture store, this location is positioned in the Old Lake Highlands area. The current buyer has plans to repurpose a significant portion of the building for The Goddard School, catering to the local demand for childcare services.

Summary of transaction details:

Younger Partners represented the seller, Johny Kenny, with Senior Vice President Michael Ytem and Associate Luke Nolan involved in the negotiation. The buyer, Noori Abdulghani, president of Linhope Companies, expressed the importance of the retail storefront’s location for adaptive reuse into a childcare facility, addressing the local need for childcare. With only 14 childcare facilities within a 15-mile radius of Lake Highlands, this new development is anticipated to provide a valuable service to surrounding residential communities.

Players

Michael Ytem

Younger Partners

Broker

8 deals

Broker

Dallas Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

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