Northwest Collision Center Acquires Former Tyrone Square Mazda Dealership In St. Petersburg
3300 Tyrone Blvd N St. Petersburg, FL 33710, USA
$5,500,000
$327/SF
Building Size
16,805 SF
Asset Type
Retail
Closing
Jun 16, 2023
AI
Gregory Descent, owner of Northwest Collision Center in St. Petersburg, has purchased the former Tyrone Square Mazda dealership in Saint Petersburg for just over $5.5 million. The property is located at 3300 Tyrone Boulevard North and spans 16,805 square feet. The retail asset is situated in the vibrant market of Saint Petersburg.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,500,000
- Square Footage: 16,805
- Price Per Square Foot: $327
- Address: 3300 Tyrone Boulevard North, Saint Petersburg
Gregory Descent of Northwest Collision Center acquired the property from Pinellas Motorcars LLC. As the new owner, Descent plans to renovate the building to accommodate his business expansion. The former dealership will serve as a pick-up and drop-off location, while his existing facility continues to operate as a maintenance and repair shop. This transaction marks an exciting opportunity for Descent to enhance and grow his business.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93