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4800 Texoma Pkwy, Sherman, ...

Midway Mall In Sherman, TX Sold By Steven Silverman Of Friedman Real Estate
SOLDRetail

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

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:

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.

Players

Steven Silverman

Friedman Real Estate

Broker

$4.8M

vol

4 deals

Broker

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