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875 Dr M.L.K. Jr St N, St. ...

$2.5M Retail Sale On 875 Dr. Martin Luther King Jr. Street N. In St. Petersburg By Marcus & Millichap
SOLDRetail

$2.5M Retail Sale On 875 Dr. Martin Luther King Jr. Street N. In St. Petersburg By Marcus & Millichap

875 Dr M.L.K. Jr St N, St. Petersburg, Fl 33701, Usa

$2,500,000

$17/SF

Building Size

142,080 SF

Asset Type

Retail

Closing

Sep 21, 2020

AI

The retail property located at 875 Dr. Martin Luther King Jr. Street N. in St. Petersburg has been sold for $2,500,000. The property spans an area of 14,208 square feet, resulting in a price per square foot of $176.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,500,000
  • Square Footage: 14,208
  • Price per Square Foot: $176
  • Address: 875 Dr. Martin Luther King Jr. Street N.
  • Market: St. Petersburg

Ricardo Esteves, Paul Bouldin, Gabriel Britti, and Ronnie Issenberg from Marcus & Millichap served as the brokers involved in the transaction.

Players

Gabriel Britti

Marcus & Millichap

Broker

$502.2M

vol

70 deals

Broker

Saint Petersburg Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93