Updated Oct 29, 2024
Maschmeyer Concrete Co. Acquires 4.13-Acre Industrial Site In St. Petersburg For $5M
4451 8th Ave S, Saint Petersburg, FL 33711
$5,000,000
$215/SF
Building Size
23,225 SF
Asset Type
Industrial
Closing
Jul 11, 2023
About this deal
AI
A 4.13-acre industrial property located at 4451 Eighth Avenue South in St. Petersburg has been sold to Maschmeyer Concrete Co. for a total of $5 million. The property was previously owned by STABIL Concrete Products and will now be utilized as a concrete batch plant by Maschmeyer. This sizable property offers ample space for the industrial activities planned by the new owner.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,000,000
- Square Footage: 23,225 SF
- Price Per Square Foot: $215
- Address: 4451 Eighth Avenue South, St. Petersburg
- Market: St. Petersburg
The deal was facilitated by brokers Kori Billings and Shane Billings from Bridgewater Commercial Real Estate. Their expertise and negotiation skills helped secure a favorable transaction for both the buyer, Maschmeyer Concrete Co., and the seller, STABIL Concrete Products.
Players
Miami Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93