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1113 Vine Street, Houston, ...

1113 Vine Street Office Building Sold In Houston By Lee Roy Murray III To 1113 Vine Street Holdings, LLC
SOLDOffice

1113 Vine Street Office Building Sold In Houston By Lee Roy Murray III To 1113 Vine Street Holdings, LLC

1113 Vine Street, Houston, TX 77002, USA

Building Size

33,000 SF

Asset Type

Office

Closing

Sep 16, 2021

AI

1113 Vine Street, located in Houston, was recently sold in a transaction dated September 16, 2021. The property is an office building spanning approximately 33,000 square feet and sits on 2.26 acres of land. The sale was facilitated by Rick Walker of CXRE, representing the buyer, 1113 Vine Street Holdings, LLC. The seller, Lee Roy Murray III, was represented by David Schwarz III and Carlos P. Bujosa of Transwestern.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 1113 Vine Street
  • Market: Houston
  • Size: 33,000 square feet
  • Buyer: 1113 Vine Street Holdings, LLC
  • Seller: Lee Roy Murray III
  • Buyer's Representative: Rick Walker - CXRE
  • Seller's Representatives: David Schwarz III & Carlos P. Bujosa - Transwestern

The successful sale of 1113 Vine Street was made possible by the collaborative efforts of the buyer's representative, Rick Walker, from CXRE, and the seller's representatives, David Schwarz III and Carlos P. Bujosa, from Transwestern. This transaction marks a significant milestone for both the buyer, 1113 Vine Street Holdings, LLC, and the seller, Lee Roy Murray III, further enhancing their respective real estate portfolios in Houston.

Players

David Schwarz III

Transwestern

Broker

2 deals

Broker

Houston Office Market Snapshot

Boundary boundary · 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