Marcus & Millichap Facilitates Sale Of 45083 SF Medical Office In Houston
11500 Space Center Boulevard
Building Size
45,083 SF
Asset Type
Medical Office
Closing
Nov 20, 2024
AI
The property asset involved in the transaction is a 45,083-square-foot medical office located at 11500 Space Center Boulevard in Houston. The building, constructed in 2008, was previously occupied by Sacred Oaks Behavioral Hospital and is situated on 4.3 acres within the Village at Clear Point Crossing medical office park.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: Not specified
- Square Footage: 45,083
- Address: 11500 Space Center Boulevard
- Market: Houston
- Acres: 4.3
- Brokers: Alex Wolansky & Gus Lagos - Marcus & Millichap
Marcus & Millichap facilitated the all-cash sale of the property, indicating a straightforward transaction process. The brokers involved, Alex Wolansky and Gus Lagos, played key roles in representing the interests associated with this property deal.
Players
Houston Medical Office Market Snapshot
Boundary boundary · Medical Office · 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