Raissi LLC Acquires Office Building In Saint Petersburg, FL For $3.45M
447 3rd Ave N, Downtown, St. Petersburg, FL, USA
$3,450,000
$1,896/SF
Building Size
1,819 SF
Asset Type
Office
Closing
Oct 27, 2021
About this deal
AI
An office building located at 447 3rd Ave N in Saint Petersburg, FL has been sold in a recent transaction. The property consists of approximately 1,819 square feet and was sold for a price of $3,450,000, resulting in a price per square foot of $1,897. The transaction took place on October 28, 2021.
Summary of transaction details
- Property Type: Office Building
- Transaction Amount: $3,450,000
- Address: 447 3rd Ave N, Saint Petersburg, FL
- Market: Saint Petersburg, FL
- Square Footage: 1,819
- Price Per Square Foot: $1,897
The buyer of the property is Raissi L L C, while the seller is Great States Mortgage Corp.
Players
Saint Petersburg Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.60%
Cash-on-Cash
-1.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93