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
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Asset Type
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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:
- Property Type: Commercial
- Transaction Amount: $2,750,000.00
- Market: Saint Petersburg
- Buyer's Rep: Patrick Nutt (SRS Real Estate Partners)
- Seller: Unknown Developer
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.
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