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8403 Sterling Street

WellMed Medical Management Leases Medical Office In Irving's Commerce Office Park
LEASEDMedical Office

WellMed Medical Management Leases Medical Office In Irving's Commerce Office Park

8403 Sterling Street

Building Size

3,154 SF

Asset Type

Medical Office

Closing

Mar 15, 2024

AI

A medical office spanning 3,154 square feet located at 8403 Sterling Street in Irving's Commerce Office Park has been leased by WellMed Medical Management. The property serves as a vital space for healthcare operations in the area, with Jason Finch and Michael Spain of Bradford Commercial Real Estate Services serving as the landlord's representatives.

Summary of transaction details:

Eric Sheets of Medcore Partners has represented WellMed Medical Management in securing the lease, highlighting the strategic role of tenant representation in this transaction.

Players

Jason Finch

Rich Young Company

Broker

28 deals

Broker

Irving Medical Office Market Snapshot

Boundary boundary · Medical Office · Lease 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