Lou Dimar Acquires Retail Property From Chris Yep In St. Petersburg For $2,779,570
SOLD
$2,779,570
+ 1
Florida
See Similar DealsRetail3,575 SF
Sold 12/20/2024
SOLD
Lou Dimar Acquires Retail Property From Chris Yep In St. Petersburg For $2,779,570
4047 4th Street North
See Similar DealsRetail3,575 SF
Sold 12/20/2024
+ 1
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$777
Total Square Footage:3,575 SF
Transaction Type:Sale
The asset involved in this transaction is a retail property located at 4047 4th Street North in the St. Petersburg market. The sale price for the property was $2,779,570, and it encompasses a total square footage of 3,575, resulting in a price per square foot of $777.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,779,570
- Square Footage: 3,575
- Price Per Square Foot: $777
- Buyer: Lou Dimar
- Seller: Chris Yep
- Brokers: Ronnie Issenberg, Gabriel Britti, Ricardo Esteves & Jonathan Gerszberg - Marcus & Millichap
- Transaction Date: 12/20/2024
The transaction involved key individuals including Lou Dimar as the buyer and Chris Yep as the seller, with brokerage representation provided by Ronnie Issenberg, Gabriel Britti, Ricardo Esteves, and Jonathan Gerszberg from Marcus & Millichap. Their expertise facilitated the completion of this retail property deal in the St. Petersburg market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$148,243.73
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,875.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,176.58
Annual Debt Service$158,118.96
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