Updated Oct 29, 2024
EverWest Real Estate Investors Acquires Industrial Property In La Porte, Texas For $8.75M
1301 South 16th Street, La Porte, TX, USA
$8,750,000
$80/SF
Building Size
109,000 SF
Asset Type
Industrial
Closing
Jan 5, 2021
About this deal
AI
The industrial property located at 1301 S. 16th Street in La Porte was recently sold for a total of $8,750,000. The property spans approximately 109,000 square feet, resulting in a price per square foot of $80. The transaction took place on January 6, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $8,750,000
The seller of the property was Phelan-Bennett Development, while the buyer was EverWest Real Estate Investors, represented by Mark Bigarel. The deal was facilitated by Justin Bennett from an undisclosed brokerage firm.
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
1.81%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93