Nick Motamedi Acquires Chili's Grill & Bar Property From Artemis Mallas In Houston For $4.75M
2709 East Broadway Street
Building Size
4,755 SF
Asset Type
Retail
Closing
Dec 17, 2025
About this deal
AI
The property involved in this transaction is a retail asset located at 2709 East Broadway Street, Houston, featuring a total square footage of 4,755. It was listed exclusively as a Chili's Grill & Bar property, with the transaction occurring while only one year remained on the lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 2709 East Broadway Street
- Market: Houston
- Asset Size: 4,755 SF
- Buyer: Nick Motamedi
- Seller: Artemis Mallas
- Broker: John Paine - Paine Restaurant Group - Marcus & Millichap
John Paine represented the seller in this transaction and successfully sourced the buyer within one week of the property being on the market, completing the deal at an aggressive cap rate.
On the Map
Retail
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Pearland 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