Main Street Acquires The Plaza At Galveston Island Retail Center In Galveston
6303 Stewart Rd Galveston, Tx 77551, Usa
Building Size
151,905 SF
Asset Type
Retail
Closing
Jun 23, 2023
About this deal
AI
The Plaza at Galveston Island, a neighborhood retail center located at 6303-6327 Stewart Road in Galveston, Texas, has been sold to Main Street. The center, situated at the busiest intersection in Galveston, spans a total area of 151,905 square feet and is currently 84.5% occupied. It features a diverse mix of local, regional, and national retailers.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 6303-6327 Stewart Road, Galveston, Texas
- Market: Galveston
- Square Footage: 151,905
Ryan West & John Indelli of JLL represented both the buyer, Main Street, and the seller, Harold A. Clark & Co., in this transaction.
On the Map
Retail
View full map
Players
Texas Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Browse Texas retail sales on Traded.
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