Lucia Huang Acquires Retail Property In El Campo, Texas For $3.2M
1721 South Mechanic Street, El Campo, Texas 77437, United States
$3,200,000
$45/SF
Building Size
71,002 SF
Asset Type
Retail
Closing
Jun 13, 2022
AI
Located in El Campo, Texas, a retail property at 1721 S Mechanic St recently changed hands in a closed transaction. The property spans an impressive 71,002 square feet and was sold for a total of $3,200,000. The deal was facilitated by brokers Sai Thakor and Jacob Luna from Marcus & Millichap. The purchase was made by Lucia Huang, who was looking to park their funds in the Texas market through a 1031 Exchange. The property was sold by Zaki and Saud Niazi.
Summary of transaction details
- Property Type: Retail
- Sale Price: $3,200,000
- Square Footage: 71,002
- Address: 1721 S Mechanic St, El Campo, Texas
- Market: El Campo
- Buyer: Lucia Huang
- Seller: Zaki & Saud Niazi
- Brokers: Sai Thakor & Jacob Luna - Marcus & Millichap
Marcus and Millichap is pleased to announce the closing of Chevron & Jack in The Box in El Campo, Texas. The successful transaction allowed the buyer to fulfill their 1031 Exchange requirement by utilizing the Texas market as a suitable investment destination.
Players
El Campo 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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93