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6802 Slide Road, Lubbock, T...

Continental Realty Acquires Lubbock Retail Property For $18.2M
SOLDRetail

Continental Realty Acquires Lubbock Retail Property For $18.2M

6802 Slide Road, Lubbock, TX, USA

$18,200,000

$126/SF

Building Size

144,241 SF

Asset Type

Retail

Closing

Jul 8, 2020

AI

The retail property located at 6802 Slide Rd in Lubbock has been sold in a recent transaction. The property, measuring 144,241 square feet and spanning across 12 acres, was part of the sale.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $18,200,000
  • Seller: RCG Ventures, LLC - Michael McMillen, & DRA Advisors LLC - David Luski
  • Buyer: Continental Realty - J.M. Schapiro
  • Date: 07/08/2021

The sale was facilitated by two sellers, RCG Ventures, LLC represented by Michael McMillen and DRA Advisors LLC represented by David Luski. The buyer, Continental Realty, was represented by J.M. Schapiro. The transaction price for the property was $18,200,000.

Players

JM Schapiro

Continental Realty Corporation

Broker

$396M

vol

12 deals

Broker
JM Schapiro

JM Schapiro

Buyer

$396M

vol

12 deals

Buyer
Continental Realty Corporation
Continental Realty CorporationBuyer

Lubbock Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.87%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93