$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
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