Updated Nov 10, 2026
8530 Belvedere Road
8530 Belvedere Road
$17,325,000
$185/SF
Building Size
93,556 SF
Asset Type
Industrial
Closing
Oct 26, 2026
About this deal
AI
The property asset involved in this transaction is an industrial facility located at 8844 Belvedere Road in West Palm Beach. The asset encompasses a total square footage of 93,556 and has a loan amount of $17,325,000, designated for construction purposes.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $17,325,000
- Lender: Pinnacle Financial Partners
- Borrower: Hernandez Development & PTM Partners
- Date: 10/26/2026
The key individuals involved in this transaction include Michael Tillman, Alex Hernandez, Alex Cemaj, and Navish Chawla, who are part of the deal facilitating the construction loan for the above-mentioned property.
On the Map
$17,325,000
$185/SF
Industrial
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Players
West Palm Beach Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93