Updated Oct 28, 2024
Colonial Holdings Group Acquires Industrial Property In Porter For $1.3M
21820 East Wallis Drive, Porter, TX 77365, USA
$1,300,000
$6/SF
Building Size
200,000 SF
Asset Type
Industrial
Closing
Aug 27, 2021
About this deal
AI
An industrial property located at 21820 E. Wallis Dr in Porter has been sold. The property, with a size of 20,000 square feet, was sold by Wallis Drive Investment, LLC. The buyer, Colonial Holdings Group, LLC, acquired the property through a transaction facilitated by brokers James Mashni and Patrick McKiernan from First Houston Properties. The sale took place on August 27, 2021, with an asking price of $1,300,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,300,000
- Size: 20,000 square feet
- Address: 21820 E. Wallis Dr
- Market: Porter
James Mashni and Patrick McKiernan from First Houston Properties represented both the seller, Wallis Drive Investment, LLC, and the buyer, Colonial Holdings Group, LLC, in the transaction.
Players
Porter 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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93