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Charles Margiotta Of InLight Real Estate Partners Acquires Southbrook Corporate Center For $22.7M
SOLD
$22,700,000
Florida
See Similar DealsIndustrial176,135 SF
Sold 02/26/2025
SOLD
Charles Margiotta Of InLight Real Estate Partners Acquires Southbrook Corporate Center For $22.7M
10950 South Belcher Road
See Similar DealsIndustrial176,135 SF
Sold 02/26/2025
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$128
Total Square Footage:176,135 SF
Transaction Type:Sale
The property asset involved is an industrial property located at 10950 South Belcher Road in Largo, encompassing approximately 10.37 acres. The sale price for the transaction was $22,700,000, and the property measures 176,135 square feet, resulting in a price per square foot of $129.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $22,700,000
- Address: 10950 South Belcher Road
- Market: Largo
- Acres: 10.37
- Square Footage: 176,135
- Price per Square Foot: $129
- Buyer: Charles Margiotta - InLight Real Estate Partners
- Seller: Chad Harrod - Harrod Properties
- Lender: Ameris Bank
InLight Real Estate Partners, represented by Charles Margiotta, has acquired its first industrial asset in Pinellas County from Harrod Properties, represented by Chad Harrod. This property is currently leased to Ion Labs Inc., a subsidiary of DCC Health & Beauty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,210,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$80,648.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$107,609.58
Annual Debt Service$1,291,314.97
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