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4009 Richmond Ave. Houston,...

HRD Interests Acquires Richmond Design Center In Houston From America Equifinance Corp
SOLDRetail

HRD Interests Acquires Richmond Design Center In Houston From America Equifinance Corp

4009 Richmond Ave. Houston, TX 77027, USA

Building Size

25,441 SF

Asset Type

Retail

Closing

Jun 2, 2023

AI

The Richmond Design Center, a 25,441-square-foot shopping center located at 4009-4025 Richmond Avenue in Houston, has been sold. The property sits on 1.6 acres of land and was recently purchased by HRD Interests from America Equifinance Corp. The transaction was facilitated by John Hornbuckle of Cypressbrook Co., who represented the seller, and Joe Foty of The Blue Ox Group, acting as the buyer's representative.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Market: Houston

Cypressbrook Co. has successfully facilitated the sale of the Richmond Design Center in Houston. John Hornbuckle of Cypressbrook Co. represented the property, while Joe Foty of The Blue Ox Group acted as the buyer's representative on behalf of HRD Interests.

Players

John Hornbuckle

Cypressbrook

Broker

7 deals

Broker

Houston 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