Jake Bordelon Acquires Retail Property In Midland For $5.98M
3200 North Loop 250 West, Midland, Texas 79707, United States
$5,980,000
$63/SF
Building Size
94,579 SF
Asset Type
Retail
Closing
Mar 8, 2022
About this deal
AI
Located at 3200 N Loop 250 W in Midland, this retail property spans over 8.4 acres. The transaction was a sale, which closed on 03/09/2022, with a sale price of $5,980,000. The property has a total square footage of 94,579, resulting in a price per square foot of $63. The capitalization rate for this transaction was 6.6%.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $5,980,000
- Address: 3200 N Loop 250 W, Midland
- Market: Midland
- Acres: 8.4
- Square Footage: 94,579
- Price per Square Foot: $63
- Capitalization Rate: 6.6%
The buyer's representative in this deal was Jake Bordelon from Marcus & Millichap. On the other hand, the seller's representatives were Britt Raymond and Kyle Fant from the National Net Lease Group of SRS Real Estate Partners.
On the Map
$5,980,000
$63/SF
Retail
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Players
Midland 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
2.65%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93