Updated Oct 29, 2024
Patrick McKiernan Of First Houston Properties Sells 185,000 SF Industrial Property On 17 Acres In Houston
1020 Rankin Road
Building Size
185,000 SF
Asset Type
Industrial
Closing
Jan 11, 2023
About this deal
AI
The industrial property located at 1020 Rankin Road in Houston has been sold. The property spans approximately 185,000 square feet and sits on a 17-acre lot. It was sold in a closed transaction, details of which are provided below.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 1020 Rankin Road, Houston
- Market: Houston
The sale of this industrial property was facilitated by Patrick McKiernan from First Houston Properties. His involvement as the broker representative demonstrates his expertise in the Houston market and his ability to successfully negotiate and close deals.
Houston Industrial Market Snapshot
Boundary boundary · Industrial · 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