Venture One Real Estate Acquires Apyx Medical Corporation's Largo Headquarters For $7.65M
1551 Ulmerton Rd Clearwater, FL 33760, USA
$7,650,000
$125/SF
Building Size
60,750 SF
Asset Type
Office
Closing
May 12, 2023
AI
Medical device manufacturer Apyx Medical Corporation has sold its Largo headquarters for $7.65 million but will remain a tenant in the facility. The 60,750-square-foot manufacturing facility, located at 1551 Ulmerton Road in Largo, was purchased by VK LLC, connected to Illinois-based Venture One Real Estate. The sale price of the property equates to a price per square foot of $126.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,650,000
- Address: 1551 Ulmerton Road, Largo
- Market: Largo
Venture One Real Estate, represented by Roy Splansky & Mark Goode, acquired the Largo headquarters of Apyx Medical Corporation. Apyx Medical, a medical device manufacturer specializing in helium plasma and radiofrequency technology production, will continue to operate as a tenant in the facility. Recently, the company's Renuvion product received FDA clearance for post-liposuction procedures.
Players
Miami Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.07%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93