Tricera Capital Acquires Retail Property On Central Avenue In St. Petersburg For $9.9M
855 Central Avenue, St. Petersburg, FL, USA
$9,900,000
$4,326/SF
Building Size
2,288 SF
Asset Type
Retail
Closing
Aug 2, 2020
AI
Tricera Capital, represented by Ben Mandell and Scott Sherman, acquired a retail property located at 855 Central Avenue in St. Petersburg. The property, sold by Related Group, was purchased for a price of $9,900,000. The transaction was financed by money360''>Money360.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,900,000
- Address: 855 Central Avenue
- Market: St. Petersburg
Additionally, the mortgage brokers involved in securing the loan for this transaction were Scott Wadler and Alec Fox from Berkadia.
Players
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
1.60%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93