Go Greek Signs Long Term Ground Lease At 115 2nd Avenue North In St. Petersburg
115 2nd Avenue North
$65
$65/SF
Building Size
1,128 SF
Asset Type
Retail
Closing
Aug 1, 2026
About this deal
AI
The retail asset involved in this transaction is located at 115 2nd Avenue North in the St. Petersburg market. The property's square footage is 1,218, and the asking rent is $65 per square foot. The lease type is categorized as a ground lease, and it is a long-term agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 115 2nd Avenue North
- Market: St. Petersburg
- Landlord: PV-Pelican Walk
- Tenant: Go Greek
- Landlord's Representative: John Mott - Paradise Ventures
- Tenant's Representatives: Ravi Idnani - Newmark; Judy Sahagian - ARC Realty Group
- Lease Term: Long term
- Lease Type: Ground Lease
- Square Footage: 1,218
- Asking Rent: $65/ft
The deal involves key individuals such as John Mott, who represents the landlord, and the tenant's representatives, Ravi Idnani from Newmark and Judy Sahagian from ARC Realty Group. Their involvement plays a crucial role in the execution of the lease agreement between PV-Pelican Walk and Go Greek.
Players
Saint Petersburg Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
244046.15%
Cash-on-Cash
-69749.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93