Jerome Payne Acquires Industrial Property In Fort Lauderdale For $2.7M With Daniel Cooke As Buyer's Rep
6640 Northwest 17th Avenue
$2,700,000
$333/SF
Building Size
8,086 SF
Asset Type
Industrial
Closing
Jan 28, 2025
AI
The asset involved in this transaction is an industrial property located at 6640 Northwest 17th Avenue in Fort Lauderdale. The sale price for this asset was $2,700,000, encompassing a total square footage of 8,086, which translates to a price per square foot of $333.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,700,000
- Address: 6640 Northwest 17th Avenue
- Market: Fort Lauderdale
- Square Footage: 8,086
- Price Per Square Foot: $333
- Buyer: Jerome Payne
- Seller: Bernard K Bupp JR
- Buyer's Representative: Daniel Cooke - Cooke Ventures - Aqua Realty
- Seller's Representative: Mark Faeth - LRM CREA
Jerome Payne served as the buyer in this transaction, while Bernard K Bupp JR was the seller. The buyer was represented by Daniel Cooke from Cooke Ventures, an affiliate of Aqua Realty, ensuring his interests were safeguarded throughout the process. Mark Faeth from LRM CREA represented the seller, managing the aspects of the deal on behalf of Bernard K Bupp JR.
Players
Fort Lauderdale Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93