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Biscayne Atlantic Acquires Industrial Property In Tarpon Springs For $7.4M

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SOLD
$7,400,000

Florida

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Industrial84,603 SF
Sold
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Property Image
SOLD

Biscayne Atlantic Acquires Industrial Property In Tarpon Springs For $7.4M

1400 L and R Industrial Boulevard, Tarpon Springs, Florida 34689, United States

See Similar Deals
Industrial84,603 SF
Sold
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$87
Total Square Footage:84603 SF
Transaction Type:Sale

1400 L and R Industrial Blvd in Tarpon Springs has been sold for $7,400,000. The industrial property has a total square footage of 84,603, resulting in a price per square foot of $87. The sale was completed on 02/03/2022. The property was purchased by Biscayne Atlantic from Mike Wool & Michelle Tuck. The transaction was facilitated by Donald Shapiro from Compass, FL LLC.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $7,400,000
  • Address: 1400 L and R Industrial Blvd
  • Market: Tarpon Springs
  • Square Footage: 84,603
  • Price per Square Foot: $87
  • Buyer: Biscayne Atlantic
  • Seller: Mike Wool & Michelle Tuck
  • Broker: Donald Shapiro - Compass, FL LLC

The sale of 1400 L and R Industrial Blvd showcases the collaboration between Biscayne Atlantic, the buyer, and Mike Wool & Michelle Tuck, the seller. Donald Shapiro from Compass, FL LLC represented the buyer in the transaction. This successful sale demonstrates the strong demand for industrial properties in Tarpon Springs.

Players

Donald Shapiro
Compass
Donald Shapiro
10 deals$58.8M volume
BROKER
BA
Biscayne Atlantic
BUYER

Details

SOLD
IMAGE: Donald Shapiro DATE: 02/03/2022 ADDRESS: 1400 L and R Industrial Blvd MARKET: Tarpon Springs ASSET TYPE: Industrial BUYER: Biscayne Atlantic SELLER: Mike Wool & Michelle Tuck BROKER: Donald Shapiro - Compass (@Compass) , FL LLC SALE PRICE: $7,400,000 SF: 84,603 ~ PPSF: $87

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

$394,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$26,290.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,079.78
Annual Debt Service$420,957.30