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3785 Barker Cypress Rd, Hou...

Protestant Episcopal Church Council Acquires Church Facility On Barker Cypress Road In Houston
SOLDOther

Protestant Episcopal Church Council Acquires Church Facility On Barker Cypress Road In Houston

3785 Barker Cypress Rd, Houston, TX 77084, USA

Building Size

194,200 SF

Asset Type

Other

Closing

Jun 17, 2020

AI

The Covenant Lutheran Church in Houston has sold its church facility located at 3785 Barker Cypress Road. The property, spanning 19,420 square feet, has been acquired by the Protestant Episcopal Church Council. The transaction was facilitated by brokers Tommy LeBlanc and Charlie Neuhaus from Avison Young, along with Carol Gray and Christina Hipps from International Church Realty.

Summary of transaction details

  • Property Type: Church Facility
  • Transaction Amount: Not disclosed
  • Address: 3785 Barker Cypress Road
  • Market: Houston
  • Square Footage: 19,420 SF

The sale of the church facility at 3785 Barker Cypress Road in Houston was facilitated by brokers Tommy LeBlanc and Charlie Neuhaus from Avison Young, and Carol Gray and Christina Hipps from International Church Realty. The Covenant Lutheran Church sold the property to the Protestant Episcopal Church Council, marking a successful transaction in the Houston market.

Players

Charlie Neuhaus

Partners Real Estate

Broker

6 deals

Broker
NAI Global
NAI GlobalBrokerage
Avison Young
Avison YoungBrokerage

Houston Other Market Snapshot

Boundary boundary · Other · 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