PTM Partners Acquires Retail Property In Saint Petersburg For $4.5M
SOLD
$4,500,000
Florida
See Similar DealsRetail7,935 SF
Sold 08/23/2022
SOLD
PTM Partners Acquires Retail Property In Saint Petersburg For $4.5M
1101 Central Avenue, St. Petersburg, Florida 33701, United States
See Similar DealsRetail7,935 SF
Sold 08/23/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$567
Total Square Footage:7,935 SF
Transaction Type:Sale
The property involved in this closed transaction is a retail asset located at 1101 Central Ave in Saint Petersburg. It was sold by Roger & Suzanne Perry, who are associated with the Datz Restaurant Group, to PTM Partners represented by Michael Tillman. The transaction was completed on 08/23/2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,500,000
- Address: 1101 Central Ave, Saint Petersburg
- Market: Saint Petersburg
- Buyer: PTM Partners - Michael Tillman
- Seller: Roger & Suzanne Perry - Datz Restaurant Group
This transaction involved an exchange of ownership for the retail property at 1101 Central Ave in Saint Petersburg. The property spans a total area of 7,935 square feet, resulting in a price per square foot of $567.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55
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