Musa Momin Acquires Retail Property In Freeport From D Properties For $5.35M
SOLD
$5,350,000
Texas
See Similar DealsRetail10,000 SF
Sold 12/30/2024
SOLD
Musa Momin Acquires Retail Property In Freeport From D Properties For $5.35M
1607 East State Highway 332
See Similar DealsRetail10,000 SF
Sold 12/30/2024
Summary
TEXAS
Asset Type:Retail
Price Per Square Foot:$535
Total Square Footage:10,000 SF
Transaction Type:Sale
The transaction involved the sale of a retail asset located at 1607 East State Highway 332 in Freeport. The property, a Shell gas station with an on-site laundromat, transacted for a total sale price of $5,350,000. It encompasses a total square footage of 10,000, resulting in a price per square foot of $535.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,350,000
- Square Footage: 10,000
- Address: 1607 East State Highway 332
- Market: Freeport
- Buyer: Musa Momin
- Seller: D Properties
- Broker: Shoby Kurjee - SK Real Estate Consulting
The deal was facilitated by Shoby Kurjee of SK Real Estate Consulting, who represented the seller in the transaction. SK Real Estate was committed to a strategic structure for the sale, ensuring a smooth and expedited closing process.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$285,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,361.73
Annual Debt Service$304,340.75
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