Jake Bordelon Acquires Retail Property In Midland For $5.98M
SOLD
$5,980,000
Texas
See Similar DealsRetail94,579 SF
Sold 03/09/2022
SOLD
Jake Bordelon Acquires Retail Property In Midland For $5.98M
3200 North Loop 250 West, Midland, Texas 79707, United States
See Similar DealsRetail94,579 SF
Sold 03/09/2022
Summary
TEXAS
Asset Type:Retail
Price Per Square Foot:$63
Total Square Footage:94,579 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$318,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,245.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,348.25
Annual Debt Service$340,179.01
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