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6640 Northwest 17th Avenue

Jerome Payne Acquires Industrial Property In Fort Lauderdale For $2.7M With Daniel Cooke As Buyer's Rep
SOLDIndustrial

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

Mark Faeth

LRM Commercial Real Estate Advisors

Broker

$47.6M

vol

13 deals

Broker

Fort Lauderdale Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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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