Friday, January 11, 2019

Marcus & Millichap Arranges $790,000 Sale of American Family Care Urgent Care St. Petersburg, FL

American Family Care Urgent Care St. Petersburg
1530 4th Street North, St Petersburg, FL
ST. PETERSBURG, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada,  announced the sale of American Family Care Urgent Care St. Petersburg, a 3,514-square foot office property located in Saint Petersburg, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office.

Krone Wiedler
The asset sold for $790,000.

Anthony Cimino, Krone Weidler and L.J. Tsunis, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a partnership. 

L.J. Tsunis
 The buyer, an individual/personal trust, was secured and represented by Jack O'Leary and Nick Ledvora, CCIM, investment specialists in Marcus & Millichap’s Orlando and Tampa offices. 

“We worked with the seller through an environmental condition associated with the property and aggregated multiple offers,"  says Mr. Cimino.

"Our ability to articulate to prospective buyers up front the risk associated with the condition allowed us to achieve an aggressive cap rate and price per square foot,” 

The building consists of 3,514 square feet of rentable area constructed of concrete frame and sits on 0.25 acres. The property is within The City of Saint Petersburg and zoned Corridor Commercial Traditional-1 (CCT-1).

Jack O'Leary
American Family Urgent Care St. Petersburg is located in the heart of the highly desirable Historic Old Northeast Neighborhood of St Petersburg, Florida.

Fourth Street North comprises U.S. Highway 92, a 181-mile intrastate U.S. Route spanning from downtown St Petersburg, Florida at US 19 Alt to its eastern terminus in Daytona Beach at SR A1A.

 It provides convenient access, approximately 1.2-miles south, to downtown St Petersburg which has seen a surge in commercial real estate development.

The property is also located within 2.2-miles of 1,132 hospital beds and three hospitals: St Anthony's Hospital - St Petersburg - BayCare (1.3-miles/393 acute care beds), Bayfront Health St. Petersburg (2.2-miles/480 acute care beds), and John Hopkins All Children's Hospital (2.2-miles/259 acute care beds).

Nick Ledvora
 These three hospitals are currently undergoing construction in order to expand their operations due to increased demand totaling an estimated $143.1 million. 

About Marcus & Millichap (NYSE: MMI)
With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. 

Founded in 1971, the firm closed over 9,000 transactions in 2017 with a value of approximately $42.2 billion.

 Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.


Whitney Davis
Marketing Coordinator
Marcus & Millichap
201 North Franklin St.
Suite 1100
Tampa, FL 33602
(813) 387-4700 main
(813) 387-4743 direct
(813) 387-4710 fax

Ari Ravi
Regional Manager, Tampa
(813) 387-4700