Fuqua Development Acquires Retail Property On 66th Street N In St Petersburg For $6M
4501 66th Street North, St. Petersburg, Florida 33710, United States
$6,000,000
$49/SF
Building Size
120,620 SF
Asset Type
Retail
Closing
Dec 21, 2021
About this deal
AI
Fuqua Development has acquired a retail property located at 4501 66th Street N in St Petersburg. The property spans across 10.9 acres and was sold by Seritage Growth Properties for a total sale price of $6,000,000. The retail space measures 120,620 square feet, resulting in a price per square foot of $50.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $6,000,000
- Address: 4501 66th Street N, St Petersburg
- Market: St Petersburg
- Acres: 10.9
Fuqua Development successfully purchased the property from Seritage Growth Properties in a noteworthy transaction. This acquisition highlights the strategic growth plans of Fuqua Development in the retail sector. The deal was facilitated by Fuqua Development's representative, who provided essential support throughout the negotiation and closing process.
On the Map
$6,000,000
$49/SF
Retail
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Players
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Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93