Malcolm Butters Acquires Development Site In Pompano Beach For $3.9M
1698 N Andrews Ave, Pompano Beach, FL, USA
$3,911,333
$46/SF
Building Size
84,000 SF
Asset Type
Development Site
Closing
Apr 5, 2021
AI
An investment property located at 1698 N. Andrews Ave. in Pompano Beach has been sold for a price of $3,911,333. The property, spanning 6.14 acres, was purchased as a development site. The buyer in this transaction is Malcolm Butters, representing the Butters Group. The seller is Florida Waves Project, LLC. Adam J. Tiktin of Tiktin Real Estate Investment Services acted as the broker in this deal.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,911,333
- Address: 1698 N. Andrews Ave., Pompano Beach
- Market: Pompano Beach
- Buyer: Malcolm Butters - Butters Group
- Seller: Florida Waves Project, LLC
- Broker: Adam J. Tiktin - Tiktin Real Estate Investment Services
This sale transaction showcases the collaboration between Malcolm Butters, representing the Butters Group, as the buyer, and Florida Waves Project, LLC as the seller. The deal was facilitated by Adam J. Tiktin of Tiktin Real Estate Investment Services, who represented the parties involved. The property's desirability and potential for development make it an attractive investment opportunity in Pompano Beach.
Players
Pompano Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.06%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93