Private Investor Acquires Pasadena Property At 7215 Fairmont Pkwy With Brokers Justin Miller And Davis Hansen
7215 Fairmont Pkwy, Pasadena, TX, 7...
Building Size
6,656 SF
Asset Type
Retail
Closing
Nov 19, 2023
AI
The property asset involved in the transaction is Fairmont Crossing, a retail strip center located at 7215 Fairmont Pkwy, Pasadena, TX. This retail center spans 6,656 square feet and is situated in the eastern Houston suburb of Pasadena.
Summary of transaction details:
- Property Type: Retail Strip Center
- Transaction Amount: Not Specified
- Address: 7215 Fairmont Pkwy, Pasadena, TX
- Market: Pasadena
- Seller's Representatives: Justin Miller - Transwestern, Davis Hansen - Marcus & Millichap
- Buyer: Private Investor
In this transaction, Justin Miller and Davis Hansen played crucial roles by representing the seller, a Houston-based developer, while also procuring the buyer, a local investor. Their collaboration facilitated the successful closing of the sale.
Players
Pasadena 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