facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Florida

/

Retail

/

Sale

/

3300 Tyrone Blvd N St. Pete...

Northwest Collision Center Acquires Former Tyrone Square Mazda Dealership In St. Petersburg
SOLDRetail

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

BayFirst National Bank
BayFirst National BankLender

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