Marcus & Millichap Sells Shoppes At Kingsgate Retail Center In Kingwood, Houston With Buyer's Rep Chris Gainey & Philip Levy
1113 Kingwood Drive & 1387 Kingwood Drive
Building Size
312,686 SF
Asset Type
Retail
Closing
Nov 15, 2023
AI
The Shoppes at Kingsgate, a 156,343-square-foot grocery-anchored retail center in Kingwood, Northeast Houston, has been sold by Marcus & Millichap. The property, located at 1113-1387 Kingwood Drive, was 95% occupied at the time of the sale and is anchored by Aldi.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not mentioned
- Address: 1113-1387 Kingwood Drive
- Market: Houston
- Square Footage: 156,343
Representing the seller in this transaction were Chris Gainey and Philip Levy from Marcus & Millichap. They successfully closed the deal for the Shoppes at Kingsgate.
Players
Kingwood Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
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