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Juda Hersh Acquires Industrial Property In Largo From Ted Tenaglia For $3M

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SOLD
$3,000,000

Florida

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Industrial25,000 SF
Sold 06/15/2022
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SOLD

Juda Hersh Acquires Industrial Property In Largo From Ted Tenaglia For $3M

12505 66th Street North, Largo, Florida 33773, United States

See Similar Deals
Industrial25,000 SF
Sold 06/15/2022
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$120
Total Square Footage:25,000 SF
Transaction Type:Sale

The industrial property located at 12505 66th Street in Largo has been sold in a closed transaction. The property spans 25,000 square feet and was sold for a price of $3,000,000, resulting in a per square foot price of $120. The sale took place on 06/15/2022.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $3,000,000
  • Address: 12505 66th Street, Largo
  • Market: Largo

The buyer of the property is Juda Hersh, represented by Hersh Equity Group. The seller is Ted Tenaglia. Hersh Equity Group (HEG) is a Miami-based family office specializing in value-add industrial assets. Since December 2021, they have acquired over 270,000 square feet with more than 150 tenants in the Tampa MSA. HEG aims to acquire 1 million square feet by the end of 2023. For off-market opportunities, they can be contacted at [email protected].

Players

Juda Hersh
16 deals$144.5M volume
BUYER

BEB Capital
LENDER

Details

SOLD
IMAGE: Juda Hersh DATE: 06/15/2022 ADDRESS: 12505 66th Street MARKET: Largo ASSET TYPE: Industrial BUYER: Juda Hersh (@Flwarehouseguy) - Hersh Equity Group (@HershEquity) SELLER: Ted Tenaglia SALE PRICE: $3,000,000 SF: 25,000 ~ PPSF: $120 NOTE FROM @HershEquity: Based in Miami, Florida, Hersh Equity Group (HEG) is a family office specializing in value-add industrial assets and has acquired over 270,000 square feet with more than 150 tenants in the Tampa MSA since December 2021. The real estate investment firm has a goal of acquiring 1 million square feet by year-end 2023. Off- market opportunities can be sent to: [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$160,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37