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3300 Tyrone Blvd N St. Pete...

Updated Oct 29, 2024

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

About this deal

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.

On the Map

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$5,500,000

$327/SF

Retail

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Players

BayFirst National Bank
BayFirst National BankLender
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Miami Retail Market Snapshot

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Deal FAQ

About $327 per square foot on a published $5.5M for 16,805 square feet (2023).

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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

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