Marcus & Millichap Brokers $13.7M Sale Of Retail Property In Pinellas Park & Largo, St. Petersburg
SOLD
$13,700,000
Florida
See Similar DealsRetail22,631 SF
Sold 09/14/2021
SOLD
Marcus & Millichap Brokers $13.7M Sale Of Retail Property In Pinellas Park & Largo, St. Petersburg
4049 Park Boulevard North, Pinellas Park, FL, USA
See Similar DealsRetail22,631 SF
Sold 09/14/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$605
Total Square Footage:22,631 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$730,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,673.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,944.99
Annual Debt Service$779,339.87
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