Midway Mall In Sherman, TX Sold By Steven Silverman Of Friedman Real Estate
4800 Texoma Pkwy, Sherman, TX, 750...
Building Size
530,000 SF
Asset Type
Retail
Closing
Nov 22, 2023
About this deal
AI
The Midway Mall in Sherman, Texas, a 530,000-square-foot regional shopping and dining destination, has been sold. The mall, located at 4800 Texoma Pkwy, is anchored by department stores Dillard’s and Burlington, and features tenants like 3-D Entertainment, Art of Threading, and Candy N Lots.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Undisclosed
- Market: Sherman
- Buyer's Representative: Steven Silverman (Friedman Real Estate)
- Buyer: Undisclosed
- Square Footage: 530,000 SF
Steven Silverman of Friedman Real Estate served as the buyer's representative in the transaction. The undisclosed buyer has plans to redevelop the Midway Mall to include a mix of uses, although the specifics of the redevelopment plan have not been disclosed.
On the Map
Retail
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Sherman 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