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1029 Strawberry Rd, Pasaden...

Riley Sharman Of Marcus & Millichap Facilitates Sale Of Strawberry Plaza Pasadena Retail Center
SOLD

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

Riley Sharman

NorthMarq

Broker

6 deals

Broker
UL
Unknown LLCBuyer

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