Montecito Medical Real Estate Acquires Medical Office On Katy Fwy In Katy
21820 Katy Fwy, Katy, TX 77449, USA
$30,000
$1/SF
Building Size
30,400 SF
Asset Type
Office
Closing
Aug 5, 2020
AI
The Medical Office property located at 21820 Katy Fwy in Katy has been sold. The transaction took place on August 6, 2020. The property spans across 30,000 square feet and is fully leased.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: Not specified
- Address: 21820 Katy Fwy
- Market: Katy
The seller of the property was Read King, while the buyer was Montecito Medical Real Estate. The deal was facilitated by Beth Young and Bob Parsley from Colliers International.
The property had been fully leased to Village Family Practice LLP and Memorial MRI & Diagnostics LLC.
Players
Katy 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
528.77%
Cash-on-Cash
-151.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93