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7748 Denton Highway

SRS Real Estate Partners Completes $7.44M Sale Of Medical Office In Watauga Featuring Total Point Urgent Care
SOLDMedical Office

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.

Players

Kyle Fant

SRS Real Estate Partners

Broker

$158M

vol

13 deals

Broker

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