Riley Sharman Of Marcus & Millichap Facilitates Sale Of Strawberry Plaza Pasadena Retail Center
1029 Strawberry Rd, Pasadena, TX, 7...
Building Size
13,753 SF
Asset Type
—
Closing
Nov 22, 2023
AI
Strawberry Plaza, a 13,753-square-foot retail center located in Pasadena, Texas, has been sold in a recent transaction. The property, listed for $1.7 million, was successfully brokered by Riley Sharman of Marcus & Millichap. The buyer, an unknown LLC, acquired this retail center situated in the eastern Houston suburb of Pasadena.
Summary of transaction details:
- Property Type: Retail center
- Transaction Amount: $1.7 million
- Address: 1029 Strawberry Rd, Pasadena, TX
- Market: Pasadena
- Seller's Representative: Riley Sharman (NorthMarq)
- Buyer: Unknown LLC
- Square Footage: 13,753
The sale of the Strawberry Plaza property was facilitated by Riley Sharman of Marcus & Millichap, who represented the seller, a private investor, and helped in procuring the buyer, the undisclosed limited liability company. This transaction highlights the successful completion of the deal involving key individuals and entities in the real estate market of Pasadena, Texas.
Players
Pasadena CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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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