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.
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