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R Wayne Lopez Acquires Industrial Warehouse In Fort Lauderdale From Johnny Alexander For $2.85M

Property Image
SOLD
$2,850,000

Florida

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Industrial14,095 SF
Sold 12/20/2024
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Property Image
SOLD

R Wayne Lopez Acquires Industrial Warehouse In Fort Lauderdale From Johnny Alexander For $2.85M

1920 Northwest 9th Street

See Similar Deals
Industrial14,095 SF
Sold 12/20/2024
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$202
Total Square Footage:14,095 SF
Transaction Type:Sale

This industrial warehouse, located at 1920-1934 Northwest 9th Street in Fort Lauderdale, was sold for $2,850,000. The property spans 14,095 square feet, resulting in a price per square foot of $202. It is set to undergo a complete rehabilitation, with spaces expected to become available in May of 2025. The seller, Johnny Alexander, is transferring ownership to the buyer, R Wayne Lopez, as part of this transaction.

Summary of transaction details:

The brokers involved in this transaction are Michael Buonadonna and Harrison Auerbach from Matthews Real Estate Investment Services, along with Tarlan Mamedov from One Commercial RE. The brokerage team is actively expanding their industrial spaces portfolio throughout 2025 and welcomes inquiries related to offerings.

Players

Harrison Auerbach
9 deals$37M volume(407) 312-1284
BROKER

Michael Buonadonna
Matthews
4 deals$19.9M volume(845) 222-8167
BROKER

Tarlan Mamedov
Compass
3 deals$12.8M volume(786) 620-0677
BROKER

ONE Commercial Real Estate
BROKERAGE

Details

SOLD
IMAGE: Tarlan Mamedov, Harrison Auerbach & Michael Buonadonna DATE: 12/20/2024 ADDRESS: 1920-1934 Northwest 9th Street MARKET: Fort Lauderdale ASSET TYPE: Industrial | Warehouse BUYER: R Wayne Lopez SELLER: Johnny Alexander BROKERS: Michael Buonadonna & Harrison Auerbach - Matthews Real Estate Investment Services (@Matthews_REIS); Tarlan Mamedov (@Yoursouthfloridaadvisor) - One Commercial RE SALE PRICE: $2,850,000 SF: 14,095 ~ PPSF: $202 NOTE FROM BROKER: This warehouse will be going through a complete rehab, and spaces will become available in May of 2025. We are adding more industrial spaces in this group`s portfolio throughout 2025. Reach out with your offerings.

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

$151,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,125.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,510.45
Annual Debt Service$162,125.45