Marcus & Millichap Brokers Sale Of 23639 Square Foot Retail Property In Fort Worth
611 Houston Street
Building Size
23,639 SF
Asset Type
Retail
Closing
Feb 12, 2025
About this deal
AI
The transaction involved the sale of a retail property consisting of a 23,639-square-foot restaurant building located at 611 Houston Street in Fort Worth. The fully leased asset is currently occupied by The Library Bar and Pete’s Dueling Piano Bar.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Undisclosed
- Address: 611 Houston Street
- Market: Fort Worth
- Asset Size: 23,639 SF
Joe Santelli of Marcus & Millichap represented both parties in the transaction, which was completed between undisclosed local investment groups.
Players
Fort Worth 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