Lou Dimar Acquires Retail Property From Chris Yep In St. Petersburg For $2,779,570
4047 4th Street North
$2,779,570
$777/SF
Building Size
3,575 SF
Asset Type
Retail
Closing
Dec 20, 2024
AI
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.
Players
Saint Petersburg Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.71%
Cash-on-Cash
-1.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93