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9778 Tx-242, Conroe, TX, 77385

NewQuest Properties Facilitates Sale Of Industrial Asset In Conroe To Undisclosed Buyer
SOLDIndustrial

NewQuest Properties Facilitates Sale Of Industrial Asset In Conroe To Undisclosed Buyer

9778 Tx-242, Conroe, TX, 77385

Building Size

Asset Type

Industrial

Closing

Nov 22, 2023

AI

The property asset involved in this transaction is a one-acre tract located at 9778 TX-242, Conroe, TX, 77385. This asset is part of the Conroe market and was sold by CLS Harper’s Preserve LLC. The buyer's identity remains undisclosed.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Undisclosed
  • Buyer: Undisclosed
  • Seller: CLS Harper’s Preserve LLC
  • Buyer's Representative: Rick Ragan - NewQuest Properties
  • Seller's Representative: Main Street Commercial Properties

The transaction was facilitated by Rick Ragan representing the buyer from NewQuest Properties. The seller, CLS Harper’s Preserve LLC, was represented by Main Street Commercial Properties. The deal exemplifies a direct negotiation between the parties involved.

Players

Rick Ragan

NewQuest Properties

Broker

3 deals

Broker

Conroe 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