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1871 Massaro Blvd

Ultimate Realty Acquires Tampa Industrial Portfolio For $16.7M
SOLDIndustrial

Ultimate Realty Acquires Tampa Industrial Portfolio For $16.7M

1871 Massaro Blvd

$16,725,000

$109/SF

Building Size

153,000 SF

Asset Type

Industrial

Closing

Dec 27, 2022

AI

An industrial portfolio located at 1871 Massaro Blvd, 1875 Massaro Blvd, and 3705 62nd Ave N in Tampa, FL has been sold for a total of $16,725,000. The portfolio consists of properties with a total square footage of 153,000, resulting in a price per square foot of $109.

Summary of transaction details

  • Property Type: Industrial Portfolio
  • Transaction Amount: $16,725,000
  • Address: 1871 Massaro Blvd, 1875 Massaro Blvd, 3705 62nd Ave N
  • Market: Tampa, FL

Ultimate Realty, represented by Mark Sabbagh and Michael Sabbagh, has acquired the industrial portfolio from Tony Ward. The sale was facilitated by brokers David Warren and Marc Smouha from KSR. It is worth noting that this transaction was signed and closed in under 45 days.

For further inquiries or similar opportunities, you may contact Marc Smouha at [email protected] or David Warren at [email protected].

Players

Marc D. Smouha

Corepoint RE

Broker

$260.5M

vol

36 deals

Broker
Mark Sabbagh

Mark Sabbagh

Ultimate Realty

Buyer

$109.7M

vol

11 deals

Buyer

Tony Ward

Seller

$33.5M

vol

2 deals

Seller

Tampa Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.95%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93