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200 S Andrews Ave, Fort Lau...

Dowding Holdings, Inc Acquires Office On 200 S Andrews Ave, Fort Lauderdale
SOLDOffice

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

R. Stephen Hyatt

Berger Commercial Realty

Broker

$111.9M

vol

19 deals

Broker
DI
Dowding Holdings, IncBuyer

Fort Lauderdale Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

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