Montecito Medical Real Estate Acquires Medical Office On Katy Fwy In Katy
SOLD
$30,000
Texas
See Similar DealsOffice30,400 SF
Sold 08/06/2020
SOLD
Montecito Medical Real Estate Acquires Medical Office On Katy Fwy In Katy
21820 Katy Fwy, Katy, TX 77449, USA
See Similar DealsOffice30,400 SF
Sold 08/06/2020
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$1
Total Square Footage:30,400 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,600.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$106.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$142.22
Annual Debt Service$1,706.58
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