Updated Dec 4, 2024
Heritage Presbyterian Church Acquires Commercial Property In Cypress From Munequita Interests LLC
14139 Huffmeister Road
Building Size
4,596 SF
Asset Type
Commercial
Closing
Jul 15, 2024
About this deal
AI
The sale involved a 4,596-square-foot commercial building situated on 1.42 acres at 14139 Huffmeister Road in Cypress, Texas. The property was acquired by Heritage Presbyterian Church from Munequita Interests LLC.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not disclosed
- Buyer: Heritage Presbyterian Church
- Seller: Munequita Interests LLC
- Buyer's Representative: Bill Ginder - Caldwell Companies
- Seller's Representative: Tom Condon Jr. - Colliers
Colliers facilitated the transaction, allowing the current tenant to occupy the premises until January 31, 2025. Heritage Presbyterian Church, represented by Caldwell Companies, secured the property with an offer that stood out as the highest bid and the quickest to close.
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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