Hilton Acquires Land In Saint Petersburg From Kolter Urban For $4M
330 Beach Drive Northeast, St. Petersburg, Florida 33701, United States
$4,000,000
$2,110/SF
Building Size
1,895 SF
Asset Type
—
Closing
Mar 8, 2022
About this deal
AI
The property asset involved in the transaction is a piece of land located at 330 Beach Dr NE Street in Saint Petersburg. The sale of this land took place on March 9, 2022, with Hilton purchasing it from Kolter Urban for a total of $4,000,000.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $4,000,000
- Address: 330 Beach Dr NE Street, Saint Petersburg
- Market: Saint Petersburg
Hilton, represented by their broker, acquired this piece of land from Kolter Urban. The transaction involved a significant amount and demonstrates the interest in properties in Saint Petersburg's market.
On the Map
$4,000,000
$2,110/SF
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Players
Saint Petersburg CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93