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1871 Massaro Boulevard, Tam...

Ultimate Realty Acquires Industrial Portfolio In Tampa, FL For $16.7M
SOLDIndustrial

Ultimate Realty Acquires Industrial Portfolio In Tampa, FL For $16.7M

1871 Massaro Boulevard, Tampa, Florida 33619, United States

$16,725,000

$109,313/SF

Building Size

153 SF

Asset Type

Industrial

Closing

Dec 27, 2022

AI

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

Summary of transaction details

  • Property Type: Industrial Portfolio
  • Transaction Amount: $16,725,000
  • Address: 1871 Massaro Blvd, 1875 Massaro Blvd, and 3705 62nd Ave N
  • Market: Tampa, FL
  • Buyer: Ultimate Realty - Mark Sabbagh & Michael Sabbagh
  • Seller: Tony Ward
  • Brokers: David Warren & Marc Smouha - KSR

The buyer of the industrial portfolio was Ultimate Realty, represented by Mark Sabbagh & Michael Sabbagh. The seller was Tony Ward. The brokers involved in the deal were David Warren and Marc Smouha from KSR. It is worth noting that this transaction was signed and closed in under 45 days.

To inquire about similar opportunities, please 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

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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