SRS Real Estate Partners Completes $7.44M Sale Of Medical Office In Watauga Featuring Total Point Urgent Care
7748 Denton Highway
$7,440,000
$925/SF
Building Size
8,042 SF
Asset Type
Medical Office
Closing
Jan 23, 2024
AI
The sale of an 8,042-square-foot medical office property located at 7748 Denton Highway in Watauga, Texas has been completed. The property is situated on a 1.01-acre lot in the Watauga market. The transaction was facilitated by Kyle Fant of SRS Real Estate Partners.
Summary of Transaction Details
- Property Type: Medical Office
- Transaction Amount: $7,440,000
- Square Footage: 8,042
- Price per Square Foot: $925
- Address: 7748 Denton Highway, Watauga, Texas
- Market: Watauga
The buyer, a Texas-based private investor, acquired the property through a 1031 exchange. The medical office property features Total Point Urgent Care as the tenant and is subject to a 20-year absolute triple net lease. This transaction highlights the strong demand for properties with secure long-term leases, such as those found in tax-free markets like Texas.
Watauga 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
2.13%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93