Omar Welfare Association Leases 4,718 SF Office Space In West Houston
3030 South Gessner Road
Building Size
4,718 SF
Asset Type
Office
Closing
May 29, 2024
AI
The office asset located at 3030 South Gessner Road in Houston spans 4,718 square feet. This property also includes medical office space and is part of a larger building totaling 61,599 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Provided
- Tenant: Kiran Ahmed - Omar Welfare Association
- Tenant Representative: Not Disclosed
- BROKERS: Christian Villarreal & William Alcorn - Finial Group
Christian Villarreal and William Alcorn of Finial Group acted as the brokers facilitating the lease negotiations on behalf of the undisclosed landlord. The tenant, Kiran Ahmed, represents the Omar Welfare Association, a nonprofit organization.
Players
Houston Office Market Snapshot
Boundary boundary · 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