Houston McDonald's Sells for $2.8M at 3.4% CAP to 1031 Exchange Buyer
Morsav Inc. helps client find perfect exchange property for 1031.
In a recent deal, Morsav Inc. helped a client find the perfect exchange property for their 1031 by selling a property in Bay Ridge and finding an incredible McDonald’s in Houston, Texas. The property is an absolute NNN with corporate guarantee and is located directly across the street from Nasa Headquarters.
The property, located at 1320 E. NASA Pkwy., Houston, TX, is a retail asset with 4,952 square feet of space and a price per square foot of 565. The sale price was 2,800,000 at a 3.4% CAP.
Evmorfea Maria Savidis, Principal Broker at Morsav, Inc., was able to help one of her best clients find the perfect exchange property for their 1031. This unique opportunity is a great investment for the buyer, as it is an absolute NNN with corporate guarantee. This means that the tenant is responsible for all expenses, including taxes, insurance, and maintenance. The buyer can sit back and collect rent without worrying about any additional expenses.
The property’s location is also a major selling point. It is located directly across the street from Nasa Headquarters, which is a major employer in the area. This ensures a steady stream of traffic and customers for the McDonald’s.
The buyer, who was not named, was able to take advantage of the 1031 exchange to defer taxes on the sale of their previous property. This allowed them to reinvest the proceeds into a new property without paying taxes on the gains.
The seller, also not named, was able to sell the property at a good price and move on to other investments.
Evmorfea Maria Savidis, the buyer’s representative, was able to find the perfect property for her client and close the deal at a good price. She can be reached at Evmorfea@Barbatsis.com for anyone interested in doing the same.
Overall, this deal is a win-win for all parties involved. The buyer was able to find a great investment property, the seller was able to sell at a good price, and the brokers were able to close the deal successfully.