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Lance Zar Of Zar Capital Group Acquires Retail Property In St. Petersburg For $3.35M

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SOLD
$3,350,000

Florida

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Retail7,000 SF
Sold 11/19/2024
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SOLD

Lance Zar Of Zar Capital Group Acquires Retail Property In St. Petersburg For $3.35M

2130 Central Avenue

See Similar Deals
Retail7,000 SF
Sold 11/19/2024
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$478
Total Square Footage:7,000 SF
Transaction Type:Sale

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

Kyle Masterson
Kyle Masterson
2 deals$5.5M volume
BROKER

Details

SOLD
IMAGE: Kyle Masterson, Lance Zar, Oliver Etessami & Ilan Nass DATE: 11/19/2024 ADDRESS: 2130 Central Avenue MARKET: St. Petersburg ASSET TYPE: Retail BUYER: Lance Zar 2130 Central - Zar Capital Group; Oliver Etessami & Ilan Nass SELLER: Eastman Equity BROKER: Kyle Masterson - The Archer Group (@TheArcherGroupRE) SALE PRICE: $3,350,000 SF: 7,000 ~ PPSF: $478 NOTE FROM BUYER: Zar Capital Group is actively seeking to acquire well positioned, value add retail properties in growing markets across the United States. If you have opportunities to share, connect with Lance at [email protected].

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$178,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,901.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,880.71
Annual Debt Service$190,568.51