Irfan Tejani Purchases 8 Gas Stations From Safan Maknojia In Alvin Texas Through Nabeel Ali
1411 South Gordon Street
Building Size
4,500 SF
Asset Type
Retail
Closing
Dec 31, 2024
About this deal
AI
The property asset involved in this transaction is a retail building located at 1411 South Gordon Street in Alvin, Texas. The total square footage of the asset is 4,500. The buyer of the property is Irfan Tejani, while the seller is Safan Maknojia.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not specified
- Buyer: Irfan Tejani
- Seller: Safan Maknojia
- Broker: Nabeel Ali - Keller Williams Realty
- Date of Transaction: 12/31/2024
Nabeel Ali acted as the broker for this transaction, representing the buyer, Irfan Tejani. Notably, the Tejani Group closed on 8 gas stations in a single transaction, achieving this closure on New Year's Eve, which is considered a remarkable feat in Texas real estate, completing the process from contract to closing in less than 60 days.
On the Map
Retail
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Alvin 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