Marcus & Millichap Closes Bowies Travel Center Transaction In Menard, TX For $6.6M
1692 US Route 83
$6,600,000
$30/SF
Building Size
217,800 SF
Asset Type
Retail
Closing
Jul 1, 2024
AI
The property at 1692 US Route 83 in Menard, TX is a retail asset known as Bowies Travel Center. It was recently sold for $6,600,000, the same price as the asking price. The property spans 217,800 square feet, resulting in a price per square foot of $30.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,600,000
- Address: 1692 US Route 83
- Market: Menard, TX
- Brokers: Wyatt Andreu, Sai Thakor & Jacob Luna - Marcus & Millichap
Marcus & Millichap, through their brokers Wyatt Andreu, Sai Thakor, and Jacob Luna, successfully facilitated the sale of Bowies Travel Center. The property was part of a 3-property portfolio in West Texas, with 68 CA's and 11 offers submitted. The Luna Thakor group represented both the buyer and seller, ensuring a quick closing of the transaction in just 32 days.
Players
Menard 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
2.40%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93