Northmarq Brokers Sale Of Retail Center In Deer Park, Houston To Local 1031 Exchange Investor
3811 Center St Deer Park, TX 77536, USA
Building Size
11,692 SF
Asset Type
Retail
Closing
Jul 11, 2023
AI
The Shoppes at Town Square, an 11,692-square-foot retail center located at 3811 Center Street in Deer Park, Houston, has been sold. The transaction was brokered by Northmarq, a real estate company based in Florida. The property was purchased by a local 1031 exchange investor. The sale price and other financial details were not disclosed.
Summary of transaction details:
- Property Type: Retail
- Square Footage: 11,692
- Address: 3811 Center Street
- Market: Deer Park, Houston
Riley Sharman, a broker from Northmarq, facilitated the sale of The Shoppes at Town Square. Additionally, Peters & Michael Borden, also from Northmarq, arranged the financing for the transaction. The mortgage brokers worked alongside Riley Sharman to complete the deal.
Players
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