Updated Oct 29, 2024
Classic Auto Services Acquires Industrial Property In Houston From National Oilwell Varco For $2.1M
7722 Harms Road
$2,100,000
$110/SF
Building Size
19,000 SF
Asset Type
MultiFamily
Closing
Feb 9, 2023
About this deal
AI
Classic Auto Services has acquired an industrial property located at 7722 Harms Road in Houston. The property, measuring approximately 19,000 square feet, was sold by National Oilwell Varco for a price of $2,100,000, resulting in a price per square foot of $111.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,100,000
- Address: 7722 Harms Road, Houston
- Market: Houston
- Buyer: Classic Auto Services
- Seller: National Oilwell Varco
- Buyer's Representative: Derick Perkins & Kyle Fischer - Alpine Real Estate Partners
Derick Perkins and Kyle Fischer from Alpine Real Estate Partners represented Classic Auto Services as their buyer's representatives in this transaction.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93