Marcus & Millichap Brokers $13.7M Sale Of Retail Property In Pinellas Park & Largo, St. Petersburg
4049 Park Boulevard North, Pinellas Park, FL, USA
$13,700,000
$605/SF
Building Size
22,631 SF
Asset Type
Retail
Closing
Sep 14, 2021
AI
Three retail properties located at 4049-4057 Park Blvd, 9040 Ulmerton Road, and 10125 Ulmerton Road in Pinellas Park & Largo, St. Petersburg, have been sold for a total of $13,700,000. The transaction was completed on 09/14/2021. The properties have a combined square footage of 22,631, resulting in a price per square foot of $605. The sale was facilitated by Gabriel Britti, Ronnie Issenberg & Jonathan Gerszberg from Marcus & Millichap.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $13,700,000
- Address: 4049-4057 Park Blvd, 9040 Ulmerton Road & 10125 Ulmerton Road
- Market: Pinellas Park & Largo, St. Petersburg
- Square Footage: 22,631
- Price Per Square Foot: $605
Gabriel Britti, Ronnie Issenberg & Jonathan Gerszberg from Marcus & Millichap represented the parties involved in the transaction.
Players
Pinellas Park 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
1.16%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93