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3130 Richmond Ave. Houston,...

Colliers Facilitates Sale Of El Tiempo Cantina In Houston's Upper Kirby/Greenway Plaza Area
SOLDRetail

Colliers Facilitates Sale Of El Tiempo Cantina In Houston's Upper Kirby/Greenway Plaza Area

3130 Richmond Ave. Houston, Tx 77098, Usa

Building Size

Asset Type

Retail

Closing

Aug 9, 2023

AI

The Houston landmark El Tiempo Cantina, located at 3130 Richmond Avenue, has been sold in a recent transaction. The retail property, known for its established presence and prime location in the Upper Kirby/Greenway Plaza area, proved to be an appealing investment opportunity. The extended lease of the restaurant further added to its allure.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not mentioned
  • Address: 3130 Richmond Avenue, Houston
  • Market: Houston

Colliers, represented by Todd Moore, Walker Ryan, and Connor Duffy, acted as the buyer's representatives in the sale. The Blue Ox Group, led by Josh Jacobs, served as the seller's representative. Their expertise and negotiation skills played a crucial role in facilitating the transaction, ensuring a successful deal for all parties involved.

Players

Todd Moore

Colliers

Broker

19 deals

Broker

Texas 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