A 3.2-Acre Pompano Beach Outdoor Storage Yard Sold for $9.7 Million. Price It by the Acre, Not the Building

A 3.2-acre industrial outdoor storage property at 1377 Hammondville Road in Pompano Beach sold for $9.7 million, closing October 7, according to Traded, and it is one of the clearest recent price points for entitled yard space in Broward County. The site carries a special exception for outdoor storage and is fully paved, drained and fenced, with a rolling security gate and a small office building of about 2,500 square feet.

Tom O’Loughlin, Larry Genet and Michael Oretsky of CBRE represented the seller, the second time the team has sold the property. Sky Groden and Ken Morris of JLL represented the buyer. The buyer and seller entities were not disclosed.

Read the price the right way

Deal databases display this sale at about $3,880 per square foot, because they divide the price by the small office building. That number is not useful for anything. A yard is bought for its usable land and its permission to store trucks, trailers, containers or equipment outdoors. Measured that way, the sale works out to roughly $3.03 million per acre, or about $70 per square foot of land.

That is the comparison to use for another yard, adjusted for usable acreage, surfacing and the terms of the storage approval. It is not a benchmark for a conventional warehouse, which is priced on its building, clear height, loading and leases.

Why entitled yards command a premium

Outdoor storage is one of the hardest uses to permit in South Florida. Most cities restrict it, and approvals often come with conditions on screening, height of stored items, surfacing and the type of vehicles allowed. A site that already has the approval, the paving and the drainage in place saves a buyer the time and risk of getting there. Pompano Beach sits in Broward’s largest industrial submarket, roughly 23.7 million square feet according to CBRE, with quick access to I-95 and Florida’s Turnpike, which is exactly where truck, equipment and logistics operators want to park.

What to check before using this sale as a comparable

The approval is the asset, so read it. Confirm what the special exception actually permits, whether it runs with the land and whether any conditions limit hours, height or vehicle type. Measure usable acreage after setbacks, landscape buffers and stormwater retention, which can take a meaningful share of a site. Ask for drainage and surfacing records and a current environmental report, since fuel and fluid storage are common on yards. Confirm truck access and turning room at the gate. The recorded deed and the full approval conditions for this sale were not yet available for review, so treat the figures as reported.

What this means for you

If you own a permitted yard, this sale is a reason to revisit what your site is worth, either to sell or to lease to an operator at today’s rates. If you operate trucks or equipment, entitled yard space in central Broward is scarce and priced accordingly, so start early and budget for land, not just rent. If you are investing, value the entitlement and the land, and underwrite the risk that a future approval may be harder to obtain than the last one.

AXCESS Commercial works with yard owners and operators across Broward, from leasing storage sites to listing them for sale and managing them for investors.

Talk to our team about leasing, listing or managing your yard or industrial site →