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875 9th Avenue North

Thomas Gaffney Purchases Retail Property From Ashley Rose In St. Petersburg For $2.7M
SOLDRetail

Thomas Gaffney Purchases Retail Property From Ashley Rose In St. Petersburg For $2.7M

875 9th Avenue North

$2,697,500

$189/SF

Building Size

14,208 SF

Asset Type

Retail

Closing

Sep 30, 2025

AI

The retail asset located at 875 9th Avenue North in the St. Petersburg market has been sold for a total transaction amount of $2,697,500. The property encompasses a total area of 14,208 square feet, translating to a price per square foot of $189.

Summary of transaction details:

This transaction involved key representatives from Marcus & Millichap, highlighting a collaborative effort in both buyer and seller representation. The involvement of multiple agents suggests a well-coordinated negotiation process, ensuring all parties achieved their respective objectives in the sale.

Players

Gabriel Britti

Marcus & Millichap

Broker

$502.2M

vol

70 deals

Broker
Marcus & Millichap
Marcus & MillichapBrokerage
Ashley Rose

Ashley Rose

Seller

$10.8M

vol

4 deals

Seller

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

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93