Rich Mitchell Sells Industrial Property In Montgomery For $3.2M With Brokers Patrick McKiernan & William Byrd
SOLD
$3,200,000
Texas
See Similar DealsIndustrial28,966 SF
Sold 01/19/2023
SOLD
Rich Mitchell Sells Industrial Property In Montgomery For $3.2M With Brokers Patrick McKiernan & William Byrd
1950 Lone Star Parkway
See Similar DealsIndustrial28,966 SF
Sold 01/19/2023
Summary
TEXAS
Asset Type:Industrial
Price Per Square Foot:$110
Total Square Footage:28,966 SF
Transaction Type:Sale
The industrial property located at 1950 Lone Star Parkway in Montgomery has been sold in a recent transaction. The property spans over 28,966 square feet and was sold for a total price of $3,200,000, resulting in a price per square foot of $110. The seller of the property was Rich Mitchell.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,200,000
- Address: 1950 Lone Star Parkway, Montgomery
- Market: Montgomery
- Square Footage: 28,966
- Seller: Rich Mitchell
The sale of this industrial property was facilitated by the brokers Patrick McKiernan and William Byrd from First Houston Properties. They represented the seller, Rich Mitchell, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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