Updated Oct 29, 2024
Private Entity Acquires Industrial Property In Lealman For $7.1M
4711 34th St NSt. Petersburg, FL 33714, USA
$7,100,000
$129/SF
Building Size
55,000 SF
Asset Type
Industrial
Closing
May 16, 2023
About this deal
AI
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.
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
2.23%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93