FMFV Warehousing Inc Leases 51824 Square Feet At 16390 Park Row Dr In Houston
16390 Park Row Dr, Houston, TX, 77084
Building Size
51,824 SF
Asset Type
Industrial
Closing
Nov 19, 2023
AI
The property involved in this transaction is a single-tenant warehouse located at 16390 Park Row Drive, Houston, TX, 77084. The industrial lease covers an area of 51,824 square feet. The warehouse was constructed in 1978 and features 28-foot clear heights, three dock-high loading doors, and a parking ratio of 0.57 spaces per 1,000 square feet.
Summary of transaction details:
- Property Type: Industrial Lease
- Transaction Amount: Not Disclosed
- Square Feet: 51,824
- Address: 16390 Park Row Dr, Houston, TX, 77084
- Market: Houston
- Tenant's Representative: Jake Wilkinson - NAI Capital
- Landlord's Representative: Darren O’Conor - NAI Capital
- Landlord: FMFV Warehousing Inc
- Tenant: Not Disclosed
Darren O’Conor and Jake Wilkinson of NAI Partners acted as the representatives for the landlord, FMFV Warehousing Inc., during the lease negotiations. The tenant has not been disclosed in this transaction.
Players
Houston Industrial Market Snapshot
Boundary boundary · Industrial · Lease 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