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Andrew Patterson Of Shannon Waltchack LLC Acquires Belleair Bazaar In Belleair Bluffs For $13M
SOLD
Florida
See Similar DealsMixed-use38,874 SF
Sold 09/22/2025
SOLD
Andrew Patterson Of Shannon Waltchack LLC Acquires Belleair Bazaar In Belleair Bluffs For $13M
2979 West Bay Drive
See Similar DealsMixed-use38,874 SF
Sold 09/22/2025
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$334
Total Square Footage:38,874 SF
Transaction Type:Sale
A mixed-use property located at 2979 West Bay Drive in Belleair Bluffs was sold for $13,000,000. The asset spans 38,874 square feet and is situated on a 2.7-acre site. The property is 96% leased, with tenants including Bonefish Grill and Cold Stone Creamery.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $13,000,000
- Address: 2979 West Bay Drive
- Market: Belleair Bluffs
- Square Footage: 38,874
- Price per Square Foot: $334
- Buyer: Andrew Patterson - Shannon Waltchack LLC
- Seller: Gregory Williams & Rufus Williams IV - Cardinal Point Management
- Brokers: Jorge Portela, Danny Finkle & Kim Flores - JLL
The transaction involved Andrew Patterson representing Shannon Waltchack LLC as the buyer, while the seller, Cardinal Point Management, was represented by Jorge Portela, Danny Finkle, and Kim Flores from JLL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59
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