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7470 Miller Road Number 2

Alterra Property Group Acquires Industrial Asset From Old House Capital In Houston
SOLDIndustrial

Alterra Property Group Acquires Industrial Asset From Old House Capital In Houston

7470 Miller Road Number 2, 1970 South Starpoint Drive & 1960 South Starpoint Drive

Building Size

23,625 SF

Asset Type

Industrial

Closing

May 2, 2025

AI

The transaction involves an industrial property located at 7470 Miller Road Number 2, 1970 South Starpoint Drive & 1960 South Starpoint Drive in Houston, TX. The asset encompasses a total of 20,982 square feet. The sale was completed on May 3, 2025, with Old House Capital as the seller.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Buyer: Alterra Property Group
  • Seller: Old House Capital
  • Brokers: Jack Zalta & Emil Shabot - KSR
  • Date of Transaction: 5/3/2025
  • Address: 7470 Miller Road Number 2, 1970 South Starpoint Drive & 1960 South Starpoint Drive
  • Market: Houston, TX
  • Asset Size: 20,982 SF

Key individuals involved in the transaction include Jack Zalta and Emil Shabot, who represented the seller, Old House Capital, in the deal. The involvement of KSR as the brokerage firm facilitated the transaction.

Players

Jack Zalta

Kassin Sabbagh Realty

Broker

$184.4M

vol

24 deals

Broker
Kassin Sabbagh Realty
Kassin Sabbagh RealtyBrokerage
Alterra Property Group
Alterra Property GroupBuyer

Houston 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93