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
Market 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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93