Nick Jaser Acquires Retail Property From Pat Fazio In Port Arthur For $28 Million
4997 Twin City Highway
Building Size
28,000 SF
Asset Type
Retail
Closing
Feb 26, 2025
About this deal
AI
The retail property located at 4997 Twin City Highway in Port Arthur has been sold. The asset encompasses a total square footage of 28,000. The transaction occurred on February 26, 2025.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 4997 Twin City Highway
- Market: Port Arthur
- Asset Size: 28,000 SF
- Buyer: Nick Jaser
- Seller: Pat Fazio
- Broker: John Baddour - HighStreet Net Lease Group
This transaction involved Nick Jaser as the buyer and Pat Fazio as the seller, both of whom played significant roles in finalizing the deal. John Baddour from HighStreet Net Lease Group represented the interests of the parties in this transaction.
On the Map
Retail
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Players
Port Arthur 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