Colliers Sells 6,000 SF Industrial Building On 1.89 Acres In Tomball, Texas
823 E Main St Tomball, TX 77375, USA
Building Size
6,000 SF
Asset Type
Industrial
Closing
Sep 12, 2023
AI
Colliers has recently sold a commercial property located at 823 East Main Street in Tomball, Texas. This 1.89-acre industrial asset includes a 6,000 square feet building, primarily used as a showroom. The property is situated in a highly sought-after market due to Tomball's impressive 4% annual growth rate and a significant 12.5% population increase since 2020.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 823 East Main Street
- Market: Tomball
- Size: 6,000 square feet
- Acreage: 1.89 acres
The buyer of the property is Johnny C. Foster, while the seller is the Fastenal Company, represented by Daniel L. Florness. H. Wayne White from the Fielding Vaughn Real Estate Group acted as the buyer's representative in the deal. On the other hand, the seller's representation was provided by Tom Condon, Jr., John Grimsley, Mike Taetz, and Bill Byrd from Colliers. Although the transaction amount was not disclosed, this successful sale demonstrates the expertise and capabilities of the involved parties in navigating the competitive industrial market.
Players
Tomball 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