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:
- Property Type: Retail
- Transaction Amount: $2,697,500
- Sale Date: 10/01/2025
- Buyer's Name: Thomas Gaffney
- Seller's Name: Ashley Rose
- Buyer's Representative: Darpan Patel, James Defusto & Dan Yozwiak - Marcus & Millichap
- Seller's Representative: Ronnie Issenberg, Gabriel Britti & Ricardo Esteves - Marcus & Millichap
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
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