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Pedowitz Machinery Movers Acquires Industrial Asset In Pompano Beach For $11.5 Million

Property Image
SOLD
$11,500,000
Tom O'Loughlin
Larry Genet
+ 1

Florida

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Industrial60,369 SF
Sold 12/27/2024
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Property Image
SOLD

Pedowitz Machinery Movers Acquires Industrial Asset In Pompano Beach For $11.5 Million

1909 Northwest 16th Street

See Similar Deals
Industrial60,369 SF
Sold 12/27/2024
Tom O'Loughlin
Larry Genet
+ 1
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$190
Total Square Footage:60,369 SF
Transaction Type:Sale

This industrial property, located at 1909 Northwest 16th Street in Pompano Beach, was sold for $11,500,000. The building features a total area of 60,369 square feet, which equates to a price per square foot of $190.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $11,500,000
  • Address: 1909 Northwest 16th Street
  • Market: Pompano Beach
  • Square Footage: 60,369
  • Price per Square Foot: $190
  • Buyer: Pedowitz Machinery Movers
  • Seller: Coastal Masonry, Inc.
  • Brokers: Tom O'Loughlin & Larry Genet - CBRE; Keith Kidwell - Sperry Van Ness; Bob Case - The Case Team

In this transaction, Pedowitz Machinery Movers acquired the property from Coastal Masonry, Inc. The deal was facilitated by multiple brokers, including Tom O'Loughlin and Larry Genet from CBRE, Keith Kidwell from Sperry Van Ness, and Bob Case from The Case Team.

Players

Larry Genet
57 deals$436M volume(305) 807-0004
BROKER

Tom O'Loughlin
CBRE
56 deals$831.7M volume(954) 817-3919
BROKER

Keith Kidwell
3 deals$18.1M volume
BROKER

Bob Case
The Case Team
1 deal$11.5M volume
BROKER

Details

SOLD
IMAGE: Bob Case, Larry Genet, Keith Kidwell & Tom O'Loughlin DATE: 12/27/2024 ADDRESS: 1909 Northwest 16th Street MARKET: Pompano Beach ASSET TYPE: Industrial BUYER: Pedowitz Machinery Movers SELLER: Coastal Masonry, Inc. BROKERS: Tom O'Loughlin (@OLoughlin.Tom) & Larry Genet (@LarryGenet) - CBRE (@CBRE); Keith Kidwell - Sperry Van Ness; Bob Case - The Case Team SALE PRICE: $11,500,000 SF: 60,369 ~ PPSF: $190

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$613,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$40,857.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,515.87
Annual Debt Service$654,190.40