Faropoint Purchases Industrial Property From Miller Electric For $7 Million In Tampa
519 Crater Lane
$7,000,000
$318/SF
Building Size
22,000 SF
Asset Type
Industrial
Closing
May 10, 2026
AI
The property asset involved in this transaction is an industrial asset located at 519 Crater Lane in the Tampa, FL market. The sale price was $7,000,000, and the property spans 22,000 square feet, resulting in a price per square foot of $318. There was a long-term lease on the property with a credit tenant.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,000,000
- Address: 519 Crater Lane
- Market: Tampa, FL
- Square Footage: 22,000
- Price per Square Foot: $318
- Buyer: Faropoint
- Seller: Miller Electric
- Brokers: Jack Zalta & Emil Shabot - KSR
KSR negotiated this off-market transaction on an off-market basis. For similar off-market opportunities nationwide, contact Jack Zalta at [email protected], Emil Shabot at [email protected], and [email protected].
Players
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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93