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

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SOLD
$7,650,000

Florida

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Office60,750 SF
Sold 05/12/2023
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SOLD

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

1551 Ulmerton Rd Clearwater, FL 33760, USA

See Similar Deals
Office60,750 SF
Sold 05/12/2023
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$125
Total Square Footage:60,750 SF
Transaction Type:Sale

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

RS
5 deals$217.9M volume
BUYER

Details

SOLD
IMAGE: Mark Goode & Roy Splansky DATE: 05/12/2023 ADDRESS: 1551 Ulmerton Road MARKET: Largo ASSET TYPE: Office BUYER: Venture One Real Estate - Roy Splansky & Mark Goode SELLER: Apyx Medical Corporation SALE PRICE: $7,650,000 SF: 60,750 ~ PPSF: $126 NOTE: 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, was purchased by VK LLC, connected to Illinois-based Venture One Real Estate. Apyx Medical specializes in helium plasma and radiofrequency technology production, with its Renuvion product recently gaining FDA clearance for post-liposuction procedures.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$408,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$27,178.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,264.90
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