Marcus & Millichap Represents Sale Of Former CVS In Cypress Texas For $3.3 Million
SOLD
$3,300,000
Texas
See Similar DealsRetail14,490 SF
Sold 01/08/2025
SOLD
Marcus & Millichap Represents Sale Of Former CVS In Cypress Texas For $3.3 Million
13757 Cypress North Houston Road
See Similar DealsRetail14,490 SF
Sold 01/08/2025
Summary
TEXAS
Asset Type:Retail
Price Per Square Foot:$227
Total Square Footage:14,490 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 13757 Cypress North Houston Road, Cypress, Texas. The building encompasses 14,490 square feet and has been sold for a price of $3,300,000, translating to a price per square foot of $227.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,300,000
- Square Footage: 14,490
- Address: 13757 Cypress North Houston Road
- Market: Cypress
- Price Per Square Foot: $227
- Broker: Sai Thakor - Marcus & Millichap
The successful closing of the transaction was facilitated by Sai Thakor of Marcus & Millichap, who represents the brokerage in the deal. The buyer is a private developer actively acquiring vacant CVS and Walgreens buildings across Houston, Austin, and Beaumont, which indicates a focused strategy on specific retail locations.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20
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