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2130 Central Avenue

Lance Zar Of Zar Capital Group Secures $2.246M Acquisition Loan For Retail Asset In St. Petersburg
FINANCEDRetail

Lance Zar Of Zar Capital Group Secures $2.246M Acquisition Loan For Retail Asset In St. Petersburg

2130 Central Avenue

$2,246,000

$320/SF

Building Size

7,000 SF

Asset Type

Retail

Closing

Nov 18, 2024

AI

The property involved in this transaction is located at 2130 Central Avenue in St. Petersburg. It is a retail asset with a total square footage of 7,000. The loan amount secured for the acquisition of this property is $2,246,000.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,246,000
  • Address: 2130 Central Avenue
  • Market: St. Petersburg
  • Landlord: Lance Zar - Zar Capital Group
  • Broker: Kevin Hakimi - Elite Capital Advisors
  • Loan Type: Acquisition

Key individuals in this transaction include Lance Zar, representing Zar Capital Group, who is the landlord. The broker facilitating the deal is Kevin Hakimi from Elite Capital Advisors, who plays a crucial role in managing the transaction process.

Players

Kevin Hakimi

Elite Capital Advisors

Broker

$17.2M

vol

2 deals

Broker

Saint Petersburg Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.06%

Cash-on-Cash

-2.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93