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2703 South Highway 6, Houst...

Streams Of Joy Church Leases Retail Space In Houston At 2703 S Texas 6 From First Priority Funding, LLC
LEASEDRetail

Streams Of Joy Church Leases Retail Space In Houston At 2703 S Texas 6 From First Priority Funding, LLC

2703 South Highway 6, Houston, Texas 77082, United States

Building Size

24,816 SF

Asset Type

Retail

Closing

Mar 13, 2022

AI

The retail property located at 2703 S Texas 6 in Houston has been leased. The property spans a total area of 24,816 square feet.

Summary of transaction details

  • Property Type: Retail
  • Transaction Date: 03/14/2022
  • Address: 2703 S Texas 6, Houston
  • Market: Houston
  • Square Footage: 24,816

The landlord for this lease is First Priority Funding, LLC, while the tenant is Streams Of Joy Church. The deal was made possible by the broker, Hunington Properties. The asking rent for the retail space was $0.91 per square foot.

Abdul, the representative from Hunington Properties, played a crucial role in finalizing this lease agreement. Through aggressive market research, Abdul was able to identify the right tenant for this retail space.

Players

Abdul Sabha

Broker

3 deals

Broker

Houston Retail Market Snapshot

Boundary boundary · Retail · Lease 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