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1425 4th Street North

Harry Lipstein Acquires Retail Property From Christuian Yepes In St. Petersburg For $4.35M
SOLDRetail

Harry Lipstein Acquires Retail Property From Christuian Yepes In St. Petersburg For $4.35M

1425 4th Street North

$4,350,000

$580/SF

Building Size

7,500 SF

Asset Type

Retail

Closing

May 15, 2024

AI

The retail property located at 1425 4th Street North in St. Petersburg was successfully sold for $4,350,000. The asset spans 7,500 square feet, resulting in a price per square foot of $580.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $4,350,000
  • Address: 1425 4th Street North
  • Market: St. Petersburg

Harry Lipstein acquired the retail property from Christuian Yepes. The transaction was facilitated by brokers Gabriel Britti, Ronnie Issenberg, Ricardo Esteves, and Jonathan Gerszberg from Marcus & Millichap.

Players

Gabriel Britti

Marcus & Millichap

Broker

$502.2M

vol

70 deals

Broker

Saint Petersburg Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.65%

Cash-on-Cash

-1.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93