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7215 Fairmont Pkwy, Pasaden...

Private Investor Acquires Pasadena Property At 7215 Fairmont Pkwy With Brokers Justin Miller And Davis Hansen
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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

Justin Miller

Transwestern

Broker

$3.5M

vol

9 deals

Broker

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