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1551 Ulmerton Rd Clearwater...

Venture One Real Estate Acquires Apyx Medical Corporation's Largo Headquarters For $7.65M
SOLDOffice

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

Roy Splansky

Venture One Real Estate

Buyer

$263.9M

vol

6 deals

Buyer

Miami Office Market Snapshot

Boundary boundary · Office · Sale transactions

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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