Miller Road Properties, LLC Acquires Industrial Property In Houston For $1.25M
SOLD
$1,250,000
Texas
See Similar DealsIndustrial13,530 SF
Sold 06/11/2020
SOLD
Miller Road Properties, LLC Acquires Industrial Property In Houston For $1.25M
16190 Miller Road 1, Houston, TX, USA
See Similar DealsIndustrial13,530 SF
Sold 06/11/2020
Summary
TEXAS
Asset Type:Industrial
Price Per Square Foot:$92
Total Square Footage:13,530 SF
Transaction Type:Sale
The industrial property located at 16190 Miller Road in Houston has been sold in a recent transaction. The property, spanning across 3.28 acres, was listed for sale with an asking price of $1,250,000. The transaction was completed on June 11, 2021, and the buyer was Miller Road Properties, LLC. The seller, Jerry Hennse, successfully sold the property to the buyer.
Summary of Transaction Details
- Property Type: Industrial
- Sale Price: $1,250,000
- Address: 16190 Miller Road, Houston
- Market: Houston
- Buyer: Miller Road Properties, LLC
- Seller: Jerry Hennse
- Brokers: Patrick McKiernan & James Mashni - First Houston Properties
Patrick McKiernan and James Mashni from First Houston Properties represented the buyer and seller, respectively, in this transaction.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$66,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,440.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,925.64
Annual Debt Service$71,107.65
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