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16445 North Freeway

Used Bikes Direct Leases 22,630 SF Industrial Building In Houston
LEASEDIndustrial

Used Bikes Direct Leases 22,630 SF Industrial Building In Houston

16445 North Freeway

Building Size

22,630 SF

Asset Type

Industrial

Closing

Jan 10, 2024

AI

Used Bikes Direct has leased a 22,630 sq ft building at 16445 North Freeway in Houston. This lease marks the company's entry into the Houston market and adds to its existing three stores. The property is located in the North Freeway/Tomball Parkway's industrial submarket and offers high visibility along Interstate 45.

Summary of transaction details

The leasing deal was facilitated by Christopher Klein and Judy Beebe from Colliers International. Used Bikes Direct, a rapidly growing powersports dealership specializing in quality pre-owned motorcycles, strategically chose this location for its fourth store due to its prime location and visibility.

Players

Judy Beebe

Colliers

Broker

4 deals

Broker

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