Lynann Pinkham Of Cravey Real Estate Services Facilitates 7.7-Acre Retail Sale In Portland
Building Size
50,800 SF
Asset Type
Retail
Closing
Apr 18, 2024
AI
The Esplanade at Northshore, a shopping center located at 1702 North Highway 181 in Portland, near Corpus Christi, has been sold. The property consists of two buildings on 7.7 acres, with Building A spanning 37,800 square feet and Building B covering 13,000 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Market: Portland
- Square Footage: 50,800
- Broker: Lynann Pinkham - Cravey Real Estate Services
Lynann Pinkham from Cravey Real Estate Services represented the seller in the transaction of the Esplanade at Northshore in Portland. The local brokerage firm, Cravey Real Estate Services, facilitated the sale of the shopping center, with Building A being sold in December of 2023, followed by the sale of Building B in March of 2024.
Market Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
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