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1950 Lone Star Parkway

Rich Mitchell Sells Industrial Property In Montgomery For $3.2M With Brokers Patrick McKiernan & William Byrd
SOLDIndustrial

Rich Mitchell Sells Industrial Property In Montgomery For $3.2M With Brokers Patrick McKiernan & William Byrd

1950 Lone Star Parkway

$3,200,000

$110/SF

Building Size

28,966 SF

Asset Type

Industrial

Closing

Jan 19, 2023

AI

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.

Players

Patrick McKiernan

First Houston Properties

Broker

$9M

vol

40 deals

Broker

Market Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.96%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93