Optimal Outcomes Acquires St. Petersburg Office Complex For $8.75 Million
10051 5th Street North
$8,750,000
$171/SF
Building Size
51,000 SF
Asset Type
Office
Closing
Sep 29, 2023
About this deal
AI
A St. Petersburg office complex located at 10051 5th Street North has been sold in a $8.75 million deal. The two-story building, constructed in 1978, spans 51,000 square feet and includes 20 covered parking spaces. The property is an office asset and is situated in the St. Petersburg market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $8,750,000
- Square Footage: 51,000
- Price per Square Foot: $172
- Address: 10051 5th Street North, St. Petersburg
The buyer of the office complex is Optimal Outcomes, specifically represented by Patrick Marston. Optimal Outcomes is a healthcare real estate company based in St. Petersburg. This acquisition adds to their existing portfolio, which includes various notable healthcare facilities in the area.
Players
Saint Petersburg Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.81%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93