$2.5M Retail Sale On 875 Dr. Martin Luther King Jr. Street N. In St. Petersburg By Marcus & Millichap
SOLD
$2,500,000
+ 1
Connecticut
See Similar DealsRetail142,080 SF
Sold
SOLD
$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
See Similar DealsRetail142,080 SF
Sold
+ 1
Summary
CONNECTICUT
Asset Type:Retail
Price Per Square Foot:$17
Total Square Footage:142080 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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