POMPANO FLEX
CENTER
1 9 0 0 N W 3 2 n d S t r e e t
P o m p a n o B e a c h , F L 3 3 0 6 4
A ± 10,848 SF flex building with Class “A”
finishes. Conveniently located with direct
proximity to I-95 and the FL-Turnpike, this
100% air conditioned freestanding building
consists of two separately metered bays with
four street level doors.
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Table of Contents
Property Overview
Executive Summary 4-5
Property Photos 6-7
Floor Plan 8-9
Zoning 10
Site Aerial Map 11-12
Buy vs. Rent Analysis 13-14
Sales Comparables 15
Area Overview
Sub-Market Information 16-17
Disclosure 18
FROM I-95: Exit onto westbound W Copans Road. Turn right onto N Powerline Road.
Turn right onto NW 32nd Street. Property will be on the right at the end of the cul-de-sac.directions
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Executive Summary
Blanca Commercial Real Estate, Inc. has been appointed as
the exclusive agent for the marketing and sale of 1900 NW
32nd Street, Pompano Beach, FL 33064.
The Property is being offered on an “as-is, where -is” basis
for the fee-simple interest in the property.
Within moments of driving through the gate, it is immediately
clear the prestige that accompanies Pompano Flex Center.
Fully air conditioned, this ± 10,848 square foot building has
over 6,000 square feet of Class “A” office space. Further
complimented by warehouse space of the same prominence,
the two separately metered bays are serviced by 4 street
level doors and a 20’ clear height.
Possessing the highest end finishes in every facet, it is
evident that no money was spared when designing this
property. With a full laundry list of luxury installments from the
polished concrete flooring to a military grade surveillance
system inclusive of the best in class security cameras and a
fully sensored electric gate, with a battery backup, this
offering provides a turn-key corporate headquarters in
immaculate condition.
In addition, located with close proximity to all major
thoroughfares such as FL Turnpike, I-95, US-441, and N
Powerline Road, Pompano Flex Center is at the doorstep of
all business hubs in South Florida. Cary Cohen, Executive Vice President
305.377.6590 | [email protected]
property inquiries and tours
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Privileged and Confidential
▪ LIST PRICE: $2,006,880 ($185 PSF)
▪ Folio: 48-42-22-28-0010
▪ Location: 1900 NW 32nd Street
Pompano Beach, FL 33064
▪ Property Type: Flex/ Industrial
▪ Gross Building Area: ± 10,848 SF
Office: ± 6,183 SF (57%)
Warehouse: ± 4,665 SF (47%)
▪ Land Area: ± 20,014 SF (+/- 0.46 Acres)
▪ Parking: 23 Spaces (2.20/ 1,000 SF)
▪ Year Built: 1985
▪ Property Tax 2016: $20,226.36
▪ Zoning I-1X Special Industrial District
▪ Ceiling Height 20’ Clear Height
• Loading Doors 4 Street Level
Executive Summary
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Photos
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Photos
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Floor Plan –Suite A
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Floor Plan –Suite B
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Zoning
The Special Industrial District (I-1X) is intended to accommodate industrial uses that are inappropriate near
residential areas and arterial streets. Permitting a myriad of uses, the district allows for outdoor storage of
materials and equipment as well as outdoor manufacturing processes.
Development Standards
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A e r i a l
+/- 46,077 Daily Traffic Count
NW
32
nd
Str
eet
Powerline Road
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A e r i a l
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LEASE
PROJECTED ANNUAL SAVINGS FROM OWNERSHIP
Buyer can save $345,944.38 by owning instead of leasing.
5 YEAR PROJECTED ANNUAL SAVINGS FROM OWNERSHIP
* Savings estimates only incorporate operating expenses and deductions.
Savings from ownership should be higher when including the sale of the asset.
Buy vs Rent Analysis
$ PSF
Market Rent (Gross) $130,176 $12.00
Estimated Utilities $8,136 $0.75
Net Occupancy Cost $138,312 $12.75
OWN
$3.36
Gross Occupancy Cost PSF
Operating Expenses
$5.69
Annual Mortgage
$9.05
Total
Tax Deductible Expenses
$3.36 $3.86 $3.68 25%
Operating Expenses
Annual Depreciation
Annual Interest
Tax Rate Savings
$2.73
Net Occupancy Cost
$6.33
Net Occupancy Cost PSF
Lease $138,312 $12.75
Own $68,630.13 $6.33
Total Savings $69,681.87 $6.42
% Savings 50.38%
Net Occupancy Cost
Lease $691,560
Own $345,615.62
Total Savings $345,944.38
50.02%
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Buyer can save 53.03% by owning instead of leasing.
* Assuming LTV of 50% and Interest Rate of 4.25%
Buy vs Rent Analysis
$6.33 $6.42 $6.52 $6.63 $6.74
$12.75 $13.13
$13.53 $13.93
$14.35
$0.00
$2.00
$4.00
$6.00
$8.00
$10.00
$12.00
$14.00
$16.00
1 2 3 4 5
Lease vs Own Analysis
Own Lease
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• Address: 803 Shotgun Road Unit 929
• Building Area: ± 5,130 SF
• Land Area: N/A
• Year Built: 2005
• Zoning: LI
• Ceiling: 22’
• Loading Doors: 1 Street Level
• Sale Date: 4/22/2016
• Sale Price: $1,250,000
• Price per
Square Foot:$243.66 PSF
• Address: 4400 N Dixie Highway
• Building Area: +/- 3,750 SF
• Land Area: ± 15,021 SF (± 0.25
Acres)
• Year Built: 1988
• Zoning: B-3
• Ceiling: 18’
• Loading Doors: 2 Street Level
• Sale Date: 9/20/2016
• Sale Price: $750,000
• Price per
Square Foot:$200 PSF
• Address: 3569-3579 N Dixie Highway
• Building Area: ± 5,268 SF
• Land Area: ± 19,419 SF (± 0.45 Acres)
• Year Built: 1973
• Zoning: B-2
• Ceiling: 12’
• Loading Doors: 6 Street Level
• Sale Date: 12/15/2017
• Sale Price: $1,000,000
• Price per Square
Foot:$189.83 PSF
Comparable Sales
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1900 NW 32nd Street is located approximately 0.2 miles (0.35 km) east of N Powerline
Road and 1.4 miles (2.3 km) west of Interstate 95 in the Pompano Beach industrial
district.
Pompano Beach was founded in the late 19th century as a small farming town and
railroad station between Miami and West Palm Beach. Within eight years of its
incorporation in 1908, the town of Pompano moved from Dade County to Palm Beach
County, before finally settling in Broward County upon its establishment in 1915.
Pompano Beach developed slowly until after World War II. By 1950, the city had grown
to nearly 6,000 residents. Rapid growth continued throughout the 20th century due to
growing immigrants and seasonal “snowbird” populations. By 1990, the city had
reached over 70,000 residents. As of 2014, the city was estimated to be the ninth-
largest municipality in South Florida at a population just above 100,000.
During the 2000s, Pompano Beach began redevelopment of its beachfront and historic
downtown areas increasing tourism significantly. The city is now considered one of the
fastest growing areas of Broward County and one of the top vacation destinations in
Florida.
newareadevelopment
Pompano Beach plans to develop an “Innovation District” as part of the goal to renovate
the downtown center. The plan is to develop 750,000 SF of office, 165,000 SF of retail,
35,000 SF of restaurants, 1,500 residential units, and 420 new hotel rooms. The
innovation district will be situated with I-95 to the west, Dixie highway to the east,
Atlantic Blvd to the south, and Hammondville Road to the north.
tiledistrict
Pompano Beach’s largely industrial western section is a major economic driver for the
city. Known locally as the “Tile District,” the Powerline Road corridor is home to a large
concentration of tile and marble showrooms.
BROWARD COUNTY – LARGEST PRIVATE EMPLOYERS
COMPANY NAME CITY EMPLOYEES TYPE OF BUSINESS
Nova Southeastern University
Davie 7,462 University
AutoNationFort
Lauderdale4,000
Automotive Retailer
American Express Plantation 3,500 Financial Services
Spirit Airlines Miramar 1,800 Airline
CitrixFort
Lauderdale1,700
Software Developer
JM Family Enterprises
Deerfield Beach
1,685Automotive
Provider
Kaplan Higher Education
Fort Lauderdale
1,665 Online Education
Actavis Davie 1,620 Pharmaceuticals
DHL Express Plantation 1,400 Airline
Rick Case Automotive Group
Fort Lauderdale
1,379 Automotive Sales
Ultimate Software Weston 1,327Computer Software
City Furniture Tamarac 1,266 Furniture Retailer
The Castle Group Plantation 1,100Community Association
Management
Source: South Florida Business Journal and Greater Fort
Lauderdale Alliance
Area Overview
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access/transportation
❖ 1900 NW 32nd Street is conveniently located between numerous transportation
corridors that provide convenient access throughout South Florida.
❖ Powerline Road is a major north-south commercial artery in central Broward County.
Running north from Fort Lauderdale, it forms the main industrial axis of Pompano
Beach.
❖ Interstate 95 is the major north-south expressway in South Florida. The interstate
runs north from Miami, through eastern Broward County and onto the major metro
areas of the Northeastern United States.
❖ Florida’s Turnpike is a major limited-access toll road running through central
Broward County. It forms the only major north-south expressway through central
Florida and a major transportation route connecting Interstates 95 and 75 via
Orlando.
❖ Fort Lauderdale-Hollywood International Airport is the major international
gateway for Broward County and the main airport for cruise passengers arriving and
departing from nearby Port Everglades. The airport is the 21st busiest in the United
States, serving over 26.9 million passengers annually.
❖ Port Everglades is Broward County’s main seaport and the second-largest port in
Florida. As cruise ships have increased in size, Port Everglades has utilized its deep
harbor to overtake the Port of Miami in overall passenger traffic and cargo tonnage.
The port generates more than $29 billion annually of business activity and employs
more than 220,000 workers statewide. Additionally, as the deepest port south of
Norfolk, Virginia the U.S. Navy regularly uses the facility as a liberty port for its
Atlantic Fleet.
nearbyamenities
❖ Pompano Park – Located ± 3 miles south of the property, Pompano Park
is a large casino and horse racing track operated by Isle of Capri
Casinos.
❖ Fort Lauderdale Executive Airport – Located ± 5 miles south of the
property, Fort Lauderdale Executive is Broward County’s main
destination for private jets and charter services. The airport serves over
300,000 aircraft operations annually.
❖ Broward College North – Located ± 2.9 miles southwest is the second-
largest satellite campus of Broward College, the county’s largest
community college. The two-year college currently enrolls 67,000
students across three campuses.
❖ Pompano Beach Airpark – Located ± 3 miles southeast of the property,
the Airpark is a 935-acre facility with three runways. It is a major general
aviation airport for northeast Broward County, and is the home base of
the Goodyear Blimp.
Port Everglades Cruise Terminal
Area Overview
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Blanca Commercial Real Estate(“Blanca”) has been retained as
exclusive real estate agent regarding the sale of 1900 NW 32nd
Street, Pompano Beach, Florida (“Property”).
This confidential Offering Memorandum was prepared by Blanca
Commercial Real Estate, and has been reviewed by Owner. It
contains selected information pertaining to the Property and
does not purport to be all-inclusive, nor to contain all the
information that a prospective purchaser may desire. All
financial projections are provided for general reference purposes
only and are based on assumptions relating to the general
economy, competition and other factors that, therefore, are
subject to material change or variation. An opportunity to inspect
the Property will be made available to qualified prospective
purchasers.
Sources of information contained within this Offering
Memorandum include, but are not limited to: Beacon Council,
CoStar, Florida Department of Labor, and the US Census
Bureau.
In this Offering Memorandum, certain documents including
leases and other materials, are described in summary form and
do not purport to be complete, nor necessarily accurate,
descriptions of the full agreements involved, nor do they
constitute a legal analysis of such document. Interested parties
are expected to independently review all documents.
This Offering Memorandum is subject to prior placement, errors,
omissions, changes or withdrawal without notice and does not
constitute a recommendation, endorsement, or advice as to the
value of the Property by Blanca Commercial Real Estate or the
Owner. Each prospective purchaser is to rely upon its own
investigation, evaluation and judgment as to the advisability of
purchasing the Property described herein.
The Owner expressly reserves the right, at its sole discretion, to
reject any or all expressions of interest or offers to purchase the
Property and/or terminate discussions with any party at any time
with or without notice. Owner shall have no legal commitment or
obligation to any purchaser reviewing this Offering Memorandum
or making an offer to purchase the Property unless a written
agreement for the purchase of the Property has been fully
executed, delivered, and approved by the Owner and any
conditions to Owner’s obligations thereunder have been satisfied
or waived. Blanca Commercial Real Estate is not authorized to
make any representations or agreements on behalf of Owner.
This Offering Memorandum is-the property of Blanca
Commercial Real Estate and may be used only by parties
approved by Blanca Commercial Real Estate. The Property is
privately offered and by accepting this Offering Memorandum,
the party in possession hereof agrees that this Offering
Memorandum and its contents are of a confidential nature and
will be held and treated in the strictest confidence. No portion of
this Offering Memorandum may be copied or otherwise
reproduced or disclosed to anyone without the prior written
authorization of Blanca Commercial Real Estate and Owner.
The terms and conditions set forth apply to this Offering
Memorandum in its entirety.
