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26414 Oak Ridge Dr Spring, ...

Voss Law Acquires 8,300 SF Office Building In Spring From Sarah Richardson
SOLDOffice

Voss Law Acquires 8,300 SF Office Building In Spring From Sarah Richardson

26414 Oak Ridge Dr Spring, TX 77380, USA

Building Size

8,300 SF

Asset Type

Office

Closing

Aug 30, 2023

AI

An 8,300-square-foot office building located at 26414 Oak Ridge Drive in Spring, Texas has been sold. The property, brokered by Newcor Commercial Real Estate, was purchased by Voss Law from the owner, Sarah Richardson of TruRealty Properties. The transaction took place on August 30, 2023.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: N/A

Adriatico Group represented the buyer, Voss Law, in the deal. Ryan Dierker, from Newcor Commercial Real Estate, acted as the seller's representative. The sale of the office building was facilitated by Newcor representing TruRealty Properties and Adriatico Group representing Voss Law.

Players

Ryan Dierker

Newcor Commercial Real Estate

Broker

2 deals

Broker

Spring 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