Tyler Workman Acquires Industrial Asset In Melbourne For $4,900,000 With Buyer’s Reps Max Loria And David Richman
700 Atlantis Road
$4,900,000
$156/SF
Building Size
31,250 SF
Asset Type
Industrial
Closing
Jun 17, 2026
AI
The industrial property located at 700 Atlantis Road in Melbourne has been sold for $4,900,000. The asset spans 31,250 square feet with a price per square foot of $156.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $4,900,000
- Address: 700 Atlantis Road
- Market: Melbourne
- Square Footage: 31,250
- Price Per Square Foot: $156
- Buyer: Tyler Workman
- Seller: Kathy Theofilos
- Buyer's Representative: Max Loria & David Richman - STL Commercial
- Seller's Representative: Vitor De Sousa & Jeffery Robison, CCIM - Lightle Beckner Robison, Inc.
The transaction involved key representatives including Max Loria and David Richman from STL Commercial representing the buyer, and Vitor De Sousa along with Jeffery Robison, CCIM from Lightle Beckner Robison, Inc. representing the seller in this deal.
Players
Market 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
3.24%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93