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12340 66th Street North

Joe Kotler Purchases Industrial Property At 12340 66th Street Largo For $4.45M
SOLDIndustrial

Joe Kotler Purchases Industrial Property At 12340 66th Street Largo For $4.45M

12340 66th Street North

$4,450,000

$90/SF

Building Size

49,178 SF

Asset Type

Industrial

Closing

Jul 12, 2024

AI

The property asset involved in this transaction is an industrial asset located at 12340 66th Street in the Largo market. The sale price for the property was $4,450,000, which translates to a price per square foot of $90. The total square footage of the asset is 49,178.

Summary of transaction details:

The individuals involved in the transaction include Joe Kotler as the buyer and Thomas Reni as the seller. Jesse Gregg and Lyman Phillips represent the buyer through Golden Lion Capital Investments, while the seller is represented by Pablo Vignolo, Raul Pino, and Jose Montero of The Hype Real Estate Group. Golden Lion Capital specializes in sourcing various opportunities nationwide, including industrial, office, multifamily, and hotel properties. Meanwhile, The Hype Real Estate Group focuses on sourcing off-market and competitively priced opportunities throughout Florida.

Players

Raul Pino

The Hype Real Estate Group

Broker

$344.4M

vol

50 deals

Broker

Largo Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.56%

Cash-on-Cash

-1.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93