Updated Jun 22, 2026
Tyler Workman Purchases Industrial Property From Kathy Theofilos For $4.9 Million With STL Commercial's Representation
700 Atlantis Road
$4,900,000
$155/SF
Building Size
31,621 SF
Asset Type
Industrial
Closing
Jun 17, 2026
About this deal
AI
The property asset involved in this transaction is an industrial building located at 700 Atlantis Road in the Melbourne market. This asset encompasses a total square footage of 31,621 and was sold for a price of $4,900,000, resulting in a price per square foot of $154.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,900,000
- Address: 700 Atlantis Road
- Market: Melbourne
- Square Footage: 31,621
- Price Per Square Foot: $154
- Buyer: Tyler Workman
- Seller: Kathy Theofilos
- Buyer's Representative: Max Loria & David Richman - STL Commercial
This transaction involved key individuals including the buyer, Tyler Workman, and the seller, Kathy Theofilos, facilitated by representatives Max Loria and David Richman from STL Commercial, highlighting their role in navigating the deal for the buyer.
On the Map
$4,900,000
$155/SF
Industrial
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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