Marcus & Millichap Sells Former CVS Property In Cypress, Texas
16155 Spring Cypress Road
Building Size
14,605 SF
Asset Type
Retail
Closing
Feb 7, 2024
About this deal
AI
The former CVS property located at 16155 Spring Cypress Road in Cypress, Texas has been sold. The 14,605 square foot net-leased retail property was marketed to various users and attracted a national brand eager to occupy the location. James H. Bell and Watt Harrison from the Houston office of Marcus & Millichap represented the seller, a limited liability company, in this transaction.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 16155 Spring Cypress Road
- Market: Cypress
- Broker: James Bell & Watt Harrison - Marcus & Millichap
This deal was facilitated by James H. Bell and Watt Harrison, brokers from Marcus & Millichap's Houston office. They successfully represented the seller, a limited liability company, in the sale of the former CVS property located at 16155 Spring Cypress Road in Cypress, Texas. The property garnered interest from a national brand, ultimately leading to its sale.
Players
Cypress Retail Market Snapshot
Boundary boundary · Retail · 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