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

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SOLD
$5,500,000

Florida

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Retail16,805 SF
Sold 06/16/2023
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Property Image
SOLD

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

3300 Tyrone Blvd N St. Petersburg, FL 33710, USA

See Similar Deals
Retail16,805 SF
Sold 06/16/2023
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$327
Total Square Footage:16,805 SF
Transaction Type:Sale

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

LENDER

Details

SOLD
IMAGE: 06/16/2023 ADDRESS: 3300 Tyrone Boulevard North MARKET: Saint Petersburg ASSET TYPE: Retail BUYER: Gregory Descent - Northwest Collision Center (@NorthwestCollisionCenter) SELLER: Pinellas Motorcars LLC SALE PRICE: $5,500,000 SF: 16,805 ~ PPSF: $327 NOTE: Gregory Descent, owner of Northwest Collision Center in St. Petersburg, has bought the former Tyrone Square Mazda dealership for just over $5.5 million. Descent plans to renovate the building and expand his business, using it as a pick-up and drop-off location while his current facility operates as a maintenance and repair shop.

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash-on-Cash Return-1.27%
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