Mallik Panda Purchases Retail Property From Anwaar Qureshi In Palestine For $1.45M
South US Hwy 79
$1,450,000
$290/SF
Building Size
5,000 SF
Asset Type
Retail
Closing
Nov 4, 2024
AI
The property involved in this sale is a retail asset located at 5138 S US Hwy 79 in Palestine, Texas. The sale price for the property was $1,450,000. The total square footage of the facility is approximately 5,000 square feet, resulting in a price per square foot of $290. The asset covers a total of 17 acres and includes a key facility that is positioned strategically within the region.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,450,000
- Square Footage: 5,000
- Price Per Square Foot: $290
- Address: 5138 S US Hwy 79
- Market: Palestine
- Buyer: Mallik Panda
- Seller: Anwaar Qureshi
- Brokers: Ameer Adel & Jacob Luna - Marcus & Millichap
The transaction was facilitated by brokers Ameer Adel and Jacob Luna, who represent Marcus & Millichap. The sale involved Speedway Truck Stop, highlighting the significance of the property as a strong investment opportunity due to its location and facilities.
Players
Palestine 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
10.94%
Cash-on-Cash
-3.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93