Vincent Phan Acquires Retail Asset In Rockport From Vicki Prince For 3.77% Cap Rate
1302 Hwy 35 N
Building Size
2,376 SF
Asset Type
Retail
Closing
Dec 5, 2024
AI
The property asset involved in the transaction is located at 1302 Hwy 35 N in Rockport. This retail asset spans 2,376 square feet and was subject to a McDonald's Corporate Ground Lease. The deal closed at a cap rate of 3.77%.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 1302 Hwy 35 N
- Market: Rockport
- Square Footage: 2,376
- Buyer: Vincent Phan
- Seller: Vicki Prince
- Broker Representatives: Sam Noe & John Paine - Marcus & Millichap
The key individuals involved in this transaction include the buyer, Vincent Phan, and the seller, Vicki Prince. Brokers Sam Noe and John Paine of Marcus & Millichap represented the seller in the deal.
Players
Rockport 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