December 31, 2021
The Multifamily Firm is proud to announce the sale of 6100 Seminole Blvd in the St Petersburg sub-market of Seminole, Florida. 6100 Seminole was a rare mixed-use value-add offering, consisting of Three, 1 bedroom / 1 bathroom apartment units and 1,440 square feet of commercial space. The property was on the market for less than a month, generated multiple offers and sold for $470,000, equating to 96% of list price, $117,500 per unit and $175 per square foot. The transaction was an all-cash deal, with a substantial escrow deposit that was non-refundable within 14 days and closed inside of 45 days of contract execution.
The 6100 Seminole offering consisted of 2 buildings, on 1 parcel of 0.20 acres of land, with direct frontage on Seminole Boulevard, yielding an annual average daily traffic count of 38,500 cars/day. Seller managed from Out of State with most units significantly below market rent, the property presented tremendous upside potential and was a major factor in the sale. 6100 Seminole is approximately 5 minutes from Madeira Beach and conveniently situated nearby a Publix Supermarket, Home Depot, Walmart Supercenter & an Abundance of Other National Retailers.
Through a rigorous marketing campaign, the offering generated 182 registered buyers from 37 States around the Country and ultimately resulted in the sourcing of a new to market. The marketing & sale of the property was brokered by Phil Ginexi & Kyle Keelan of The Multifamily Firm. For additional information regarding the sale and/or upcoming offerings, please visit MultifamilyFirm.com or contact us directly to join our distribution list for new exclusive listings!
MIXED-USE APARTMENT ASSET IN ST PETERSBURG, FL SALE HIGHLIGHTS:
- Sale Price: $470,000 ($117,500/Unit | $175/SF)
- Sold at 96% of List Price Inside of 45 Days of Contract Execution
- All-Cash Deal w/ a Substantial Deposit Hard in 14 Days
- Mixed-Use Property Consisting of 3 One Bedroom Apartments & 1,440 SF of Commercial Space
- Direct Frontage on Seminole Blvd Yielding an Annual Avg Daily Traffic Count of 38,500 Cars/Day
- Within a Short Drive of Madeira Beach, Redington Beach, Treasure Island, Indian Shores & St Pete Beach