Brian McLendon Acquires Retail Property In Pearland, TX From Jay Sills
1515 Broadway Street
Building Size
14,357 SF
Asset Type
Retail
Closing
Dec 18, 2023
AI
Located at 1515 Broadway Street in Pearland, Texas, this retail property was recently sold in a closed transaction. Spanning an impressive 14,357 square feet, the property offers ample space for various retail operations. The sale of this property was facilitated by Christian Becker and Conrad Sarreal of Matthews Real Estate Investment Services.
Summary of transaction details
- Property Type: Retail
- Square Footage: 14,357
- Transaction Date: 12/18/2023
- Address: 1515 Broadway Street, Pearland, TX
The buyer of the property is Brian McLendon, while the seller is Jay Sills. Christian Becker and Conrad Sarreal, representing Matthews Real Estate Investment Services, acted as the brokers in this transaction.
Players
Pearland 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