Updated Dec 4, 2024
Kelly Hutchinson Of Colliers Facilitates Sale Of Industrial Property In League City, TX
1300 Fm 646 Road West
Building Size
8,250 SF
Asset Type
Industrial
Closing
May 20, 2024
About this deal
AI
The property at 1300 Fm 646 Road West in League City, Texas, consists of 8,250 square feet situated on 4.02 acres of land. The industrial asset was acquired in a recent sale, with Kelly Hutchinson from Colliers International representing the seller. The property, formerly utilized by Aqua Drill International, will now be home to Dr. Cool & Professor Heat, an air conditioning and HVAC service company, showcasing the continued activity in Houston's East-Southeast Far industrial submarket.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 1300 Fm 646 Road West
- Market: League City
- Square Footage: 8,250
- Acres: 4.02
Kelly Hutchinson, representing Colliers International, played a pivotal role in the sale of the industrial property in League City. The transaction involved the transition of the site's usage from a long-time occupant, Aqua Drill International, to the future operations of Dr. Cool & Professor Heat, further highlighting the dynamic nature of the East-Southeast Far industrial submarket in Houston.
Players
Dickinson 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