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State Highway 249, Fm 2920

Dr. Khoa Nguyen Acquires 2.732 Acres Of Land In Tomball, Texas For Medical Office Development
SOLDLand

Dr. Khoa Nguyen Acquires 2.732 Acres Of Land In Tomball, Texas For Medical Office Development

State Highway 249, Fm 2920

Building Size

Asset Type

Land

Closing

Jul 17, 2023

AI

The sale of 2.732 acres of undeveloped land in Tomball, Texas has been facilitated by Colliers International. The property, located at State Highway 249, FM 2920, and the Grand Parkway, is primed for development. The buyer, Dr. Khoa Nguyen of Paris Home Base LLC, plans to construct medical office buildings and lease space to supportive retailers, following successful re-zoning efforts.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: Not specified
  • Address: State Highway 249 & FM 2920 & the Grand Parkway, Tomball, Texas
  • Market: Tomball
  • Buyer: Dr. Khoa Nguyen - Paris Home Base LLC
  • Seller: Tomball 10 Joint Venture
  • Buyer's Representative: Andrew Nguyen & Timothy Thomas - LandPark Commercial
  • Seller's Representative: Tom Condon Jr. & John Grimsley - Colliers International

Colliers International played a crucial role in connecting the buyer, Dr. Khoa Nguyen, with the seller, Tomball 10 Joint Venture. Andrew Nguyen and Timothy Thomas from LandPark Commercial acted as the buyer's representatives, while Tom Condon Jr. and John Grimsley from Colliers International served as the seller's representatives. This professional collaboration resulted in the successful transaction of the undeveloped land, setting the stage for future development that aligns with Dr. Nguyen's vision.

Players

Tom Condon Jr.

Colliers

Broker

24 deals

Broker

Texas Land Market Snapshot

Boundary boundary · Land · 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