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2351 Westinghouse Road

Landan Dory & Caleb Jackson Sell Wellspring Preparatory Academy Property In Georgetown As Seller's Rep
SOLDSchool

Landan Dory & Caleb Jackson Sell Wellspring Preparatory Academy Property In Georgetown As Seller's Rep

2351 Westinghouse Road

Building Size

12,664 SF

Asset Type

School

Closing

May 13, 2024

AI

The property involved in the transaction is a 12,664-square-foot early education/daycare specialty property located at 2351 Westinghouse Road in Georgetown, Texas. The asset sits on 3.2 acres and was sold by Wellspring Preparatory Academy, LLC. The sale was facilitated by Partners Real Estate, with Caleb Jackson and Landan Dory from the agency representing the seller.

Summary of transaction details:

  • Property Type: School
  • Transaction Amount: Not specified
  • Address: 2351 Westinghouse Road
  • Market: Georgetown
  • Sellers: Wellspring Preparatory Academy, LLC
  • Brokers: Caleb Jackson & Landan Dory - Partners Real Estate

The sale of the property attracted seven competitive offers within a span of under 60 days, thanks to the aggressive marketing strategies employed. Ultimately, the seller was able to choose a buyer who offered above the asking price, a 30-day closing period, and an all-cash payment with hard money down on the first day.

Players

Landan Dory

Partners Real Estate

Broker

4 deals

Broker

Georgetown School Market Snapshot

Boundary boundary · School · Sale transactions

Loading comparables…

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