Lance Zar Of Zar Capital Group Acquires Retail Property In St. Petersburg For $3.35M
2130 Central Avenue
$3,350,000
$478/SF
Building Size
7,000 SF
Asset Type
Retail
Closing
Nov 19, 2024
About this deal
AI
The property asset involved in this transaction is a retail space located at 2130 Central Avenue, St. Petersburg. The sale price for the asset is $3,350,000, and it comprises a total of 7,000 square feet, resulting in a price per square foot of $478.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,350,000
- Square Footage: 7,000
- Address: 2130 Central Avenue
- Market: St. Petersburg
- Buyer: Lance Zar 2130 Central - Zar Capital Group; Oliver Etessami & Ilan Nass
- Seller: Eastman Equity
- Broker: Kyle Masterson - The Archer Group
The key individuals involved in the deal include Lance Zar, who represents Zar Capital Group, and co-buyers Oliver Etessami and Ilan Nass. The seller of the property is Eastman Equity. Kyle Masterson from The Archer Group acted as the broker in this transaction.
Players
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
4.74%
Cash-on-Cash
-1.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93