Nueces Center For Mental Health Acquires 45,000 SF Office Building In Corpus Christi, TX
1225 Agnes Street, Corpus Christi, Texas 78401, United States
Building Size
45,000 SF
Asset Type
Office
Closing
Jan 24, 2022
About this deal
AI
The Nueces Center for Mental Health and Intellectual Disabilities has recently purchased a 45,000 square foot office building located at 1225-1233 Agnes Street, known as One Agnes Plaza, in Corpus Christi, TX. The transaction took place on January 24, 2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not mentioned
- Market: Corpus Christi, TX
- Asset Type: Office
- Square Footage: 45,000
The office building was 85% leased at the time of the sale, with an average base rent of $18.50 per square foot. Matt Ryon, representing RYON Real Estate Investment Service, acted as both the seller and buyer's broker in this transaction.
RYON Real Estate Investment Service is a newly formed commercial real estate brokerage specializing in NNN investments across all 50 states. For more information, interested parties can reach out to Matt Ryon.
Players
Corpus Christi 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