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20185 Us-59, New Caney, TX,...

Updated Sep 11, 2024

Daniel Wenz Of STRIVE Represents Seller In New Caney Sale At 20185 Us-59
SOLDRetail

Daniel Wenz Of STRIVE Represents Seller In New Caney Sale At 20185 Us-59

20185 Us-59, New Caney, TX, 77357

Building Size

55,944 SF

Asset Type

Retail

Closing

Nov 19, 2023

About this deal

AI

This transaction involved the sale of Brookshire Brothers Shopping Center, a retail asset located at 20185 Us-59, New Caney, TX, 77357. The property encompasses a total area of 55,944 square feet and is situated in the New Caney market. The shopping center is anchored by a 42,000-square-foot Brookshire Brothers store. The surrounding area has experienced a significant demographic change, with the population increasing by over 25 percent since 2010.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not disclosed
  • Square Footage: 55,944
  • Address: 20185 Us-59, New Caney, TX, 77357
  • Market: New Caney
  • Buyer's Representative: Unknown
  • Seller's Representative: Daniel Wenz - STRIVE
  • Seller: Florida-based entity
  • Buyer: Unknown

Daniel Wenz of STRIVE represented the seller in this closed transaction and successfully procured a local buyer. Both the buyer and seller requested anonymity, adding a level of confidentiality to the deal.

Players

Daniel Wenz

Wenz Investment Group

Broker

1 deal

Broker

New Caney 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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