ST. PETERSBURG, Fla. (Oct. 1, 2021) – Bridgewater Commercial Real Estate announces the sale of 808 49th Street South, a 7,536-square-foot retail strip center for $985,000 or $131 per square foot. The going-in capitalization rate is 5.07 percent. The building has the potential to serve up to 11 tenants.
“Our firm really likes 49th Street South and we believe this corridor has great upside. This plaza sits just one block south of the Pinellas Trail and 17,600 vehicles drive past it every day,” listing broker Kris Dumke said. “The seller, who had owned the center for 30 years, agreed to seller-finance the transaction.
Dumke’s colleague, Dee Maret CCIM, represented the buyer in the transaction.