Red Sea Properties LLC Acquires Industrial Property In Houston
10421 Southwest Plaza Drive, Houston, TX 77074
Building Size
32,554 SF
Asset Type
Industrial
Closing
Oct 7, 2020
AI
Red Sea Properties LLC has acquired an industrial property located at 10421 Southwest Plaza Drive, Houston. The property, which spans 32,554 square feet, was sold by Spicy World of USA Inc. The transaction took place on 10/08/2020. The sale was facilitated by Sam Chang from Henry S. Miller Brokerage, representing the seller, and Bryan Tran from BHW Capital, representing the buyer.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: Not specified
- Square Footage: 32,554
- Address: 10421 Southwest Plaza Drive, Houston
- Seller: Spicy World of USA Inc
- Buyer: Red Sea Properties LLC
- Seller's Representative: Sam Chang - Henry S. Miller Brokerage
- Buyer's Representative: Bryan Tran - BHW Capital
Players
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