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4614 North Hubert Avenue

Mario Penzo Acquires Development Site At 4614 North Hubert Avenue In Tampa For $2.925M
SOLDDevelopment Site

Mario Penzo Acquires Development Site At 4614 North Hubert Avenue In Tampa For $2.925M

4614 North Hubert Avenue

$2,925,000

$19/SF

Building Size

148,975 SF

Asset Type

Development Site

Closing

Sep 12, 2024

AI

The property asset involved in this transaction is a development site located at 4614 North Hubert Avenue, Tampa, featuring an area of 3.42 acres. The sale price for this asset was $2,925,000, with a total square footage of 148,975 and a price per square foot of $19.

Summary of transaction details:

The deal involved key individuals, with Mario Penzo as the buyer and broker representatives from Marcus & Millichap including Dinard Garrett, Bobby Gross, Darpan Patel, and Dan Yozwiak handling the transaction on behalf of the buyer.

Players

Darpan Patel

Marcus & Millichap

Broker

$61.4M

vol

19 deals

Broker

Tampa Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.42%

Cash-on-Cash

-1.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93