Secure Net Lease Brokers $5M Sale Of Grand Prairie Retail Building Triple-Net-Leased To Shake Shack
1550 Mayfield Road
$5,000,000
$1,479/SF
Building Size
3,380 SF
Asset Type
Retail
Closing
Jan 5, 2024
About this deal
AI
An undisclosed seller has brokered the sale of a 3,380-square-foot retail building located at 1550 Mayfield Road in Grand Prairie, Texas. The property, triple-net-leased to Shake Shack, was sold for $5 million. Matthew Scow of Secure Net Lease represented the seller, while Sandi Hunter of Retail Link Associates represented the buyer in the transaction, who utilized a 1031 exchange.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,000,000
- Address: 1550 Mayfield Road, Grand Prairie, Texas
- Market: Grand Prairie
- Asset Type: Retail
- SF: 3,380
- Buyer's Representative: Sandi Hunter - Retail Link Associates
- Seller's Representative: Matthew Scow - Secure Net Lease
In this $5 million deal, an undisclosed seller sold a 3,380-square-foot retail building in Grand Prairie, Texas. The property was triple-net-leased to Shake Shack. Matthew Scow of Secure Net Lease represented the seller in the transaction, while Sandi Hunter of Retail Link Associates represented the buyer, who utilized a 1031 exchange.
On the Map
$5,000,000
$1,479/SF
Retail
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Grand Prairie 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93