SOLDRetail
Last Mile Investments Acquires 24,000 Square Foot Retail Property In Houston With Edge Realty Partners As Buyer's Rep
5757 Westheimer Road
Building Size
24,000 SF
Asset Type
Retail
Closing
Sep 4, 2024
AI
A retail property with a total of 24,000 square feet located at 5757 Westheimer Road has been transacted in the Houston market. The property is situated in West Houston's Uptown/Galleria submarket.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 5757 Westheimer Road
- Market: Houston
- Buyer: Last Mile Investments
- Buyer's Representative: Chace Henke & Micha Van Marcke - Edge Realty Partners
- Seller's Representative: James Bayne - Investar Real Estate Services
Players
Houston Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
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