Fuqua Development Acquires Retail Property On 66th Street N In St Petersburg For $6M
SOLD
$6,000,000
Florida
See Similar DealsRetail120,620 SF
Sold 12/22/2021
SOLD
Fuqua Development Acquires Retail Property On 66th Street N In St Petersburg For $6M
4501 66th Street North, St. Petersburg, Florida 33710, United States
See Similar DealsRetail120,620 SF
Sold 12/22/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$49
Total Square Footage:120,620 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$319,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73
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