ABE Richmond LLC & Pinnacle West LLC Acquire Office Property On Richmond Ave In Houston
11201 Richmond Avenue, Houston, TX, USA
Building Size
142,000 SF
Asset Type
Office
Closing
Apr 22, 2021
About this deal
AI
Miracles Inc. has sold a 142,000 square foot office property located at 11201-11331 Richmond Ave in Houston. The transaction took place on April 23, 2021. The property spans across 8.3 acres of land.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 11201-11331 Richmond Ave, Houston
- Market: Houston
The buyers of the property were ABE Richmond LLC and Pinnacle West LLC. Representing the sellers, Miracles Inc., in this deal was Tom Clarkson from West Star Marketing Group.
Players
Houston Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse Texas office sales on Traded.
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