Dowding Holdings, Inc Acquires Office On 200 S Andrews Ave, Fort Lauderdale
200 S Andrews Ave, Fort Lauderdale, F...
$1,350,000
$282/SF
Building Size
4,772 SF
Asset Type
Office
Closing
Nov 22, 2023
AI
The office condominium located at 200 South Andrews Avenue in Fort Lauderdale's Museum Plaza has been sold for $1,347,000. The upscale corporate office spans 4,772 square feet and is situated in Suite 200. This fully renovated property was previously the headquarters for Blockbuster Entertainment Corporation.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,347,000.00
- Address: 200 S Andrews Ave, Fort Lauderdale
- Market: Fort Lauderdale
- Seller's Rep: R. Stephen (Steve) Hyatt (Berger Commercial Realty)
- Buyer: Dowding Holdings, Inc
- SF: 4772
Dowding Holdings, Inc, represented themselves in the transaction as they purchased this office space. The buyer, who had been leasing in the area, saw the opportunity for ownership in this property. The deal was successfully closed on July 29. The office features various amenities like upgraded flooring, glass wall conference rooms, perimeter offices with views, an open bullpen area, a high-end space for specific use, large kitchen/break-room area, wellness room, storage, and IT/Technology space. This Class A Museum Plaza offers additional benefits such as on-site security, property management, surveillance technology, private key access, and valet parking.
Players
Fort Lauderdale Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.75%
Cash-on-Cash
-3.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93