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1702 North Highway 181

Lynann Pinkham Of Cravey Real Estate Services Facilitates 7.7-Acre Retail Sale In Portland
SOLDRetail

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:

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.

Players

Lynann Pinkham

Cravey Real Estate Services

Broker

5 deals

Broker

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