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Private Entity Acquires Industrial Property In Lealman For $7.1M

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SOLD
$7,100,000

Florida

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Industrial55,000 SF
Sold 05/16/2023
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Property Image
SOLD

Private Entity Acquires Industrial Property In Lealman For $7.1M

4711 34th St NSt. Petersburg, FL 33714, USA

See Similar Deals
Industrial55,000 SF
Sold 05/16/2023
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$129
Total Square Footage:55,000 SF
Transaction Type:Sale

A property near the new Tesla Service Center in Lealman has been sold for $7.1 million to a private entity. The industrial property, located at 4711 34th Street North, offers potential for further development in the area. Spanning 55,000 square feet, the property was sold at a price of $129 per square foot.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $7,100,000
  • SF: 55,000
  • Price Per Square Foot: $129
  • Market: Lealman

The seller of the property was Hilltop Research, while the transaction was facilitated by Ned Willis from Vector Commercial Real Estate Services.

Players

Ned Willis
Vector Commercial Real Estate Services
Ned Willis
1 deal$7.1M volume(727) 481-3356
BROKER

Details

SOLD
IMAGE: Ned Willis DATE: 05/16/2023 ADDRESS: 4711 34th Street North MARKET: Lealman ASSET TYPE: Industrial SELLER: Hilltop Research BROKER: Ned Willis - Vector Commercial Real Estate Services SALE PRICE: $7,100,000 SF: 55,000 ~ PPSF: $129 NOTE: A property near the new Tesla Service Center in Lealman has been sold for $7.1 million to a private entity. The sale offers potential for further development in the area as neighboring landowners show interest in revitalization projects.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$378,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$25,224.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,657.62
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