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
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