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6398 9th St N, St. Petersbu...

Private Investor Buys Property On 9th St N, St. Petersburg For $2.75M
SOLD

Private Investor Buys Property On 9th St N, St. Petersburg For $2.75M

6398 9th St N, St. Petersburg, FL, 337...

$2,750,000

Building Size

Asset Type

Closing

Nov 22, 2023

AI

Located in Saint Petersburg, FL, the property at 6398 9th St N was recently sold for $2,750,000.00. The sale involved a private investor as the buyer, with Patrick Nutt from SRS Real Estate Partners representing the buyer in the transaction. The seller was an unknown developer.

Summary of transaction details:

The involvement of a private investor, along with Patrick Nutt from SRS Real Estate Partners as the buyer's representative, highlights the diverse mix of individuals and companies in this property transaction. The unknown developer, on the other hand, remains a mysterious entity in the sale of this commercial property.

Players

Patrick Nutt

SRS Real Estate Partners

Broker

$563.4M

vol

75 deals

Broker
UD
Unknown DeveloperSeller

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

5.77%

Cash-on-Cash

-1.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93