Office Building with Covered
For Sale
Contact for pricing
1301 S Andrews Ave, Fort Lauderdale, FL 33315
Office building with executive offices, conference rooms, reception, support areas, and approximately 24 parking spaces including 11 covered.
Property Size3,550 SF
Price / SF$661.97
Days on Market124
Property Features for 1301 S Andrews Ave
General Information
Standard status
Active
Size
3,550 SF
Property subtype
OFFICE
Listing Agency:
Native Realty
(954) 595-2999
Listed By:
Jaime Sturgis · License #B26061923
Source:
Moodyscre
Added: May 13
Changed: Sep 7
Last Checked: Sep 13 at 7:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Native Realty
Investment Insights
Based on property information with market context.
This office building features a functional interior layout with executive offices, conference rooms, reception, and support areas. Finishes include an original stone entry, hardwood floors, and solid wood doors, complemented by a full-building generator.
The property offers prominent frontage and visibility along South Andrews Avenue, with ample parking for approximately 24 vehicles, including 11 covered spaces. A new roof was installed within the last two years.
Historic age has resulted in reduced property taxes. The offering is for sale.
The property offers prominent frontage and visibility along South Andrews Avenue, with ample parking for approximately 24 vehicles, including 11 covered spaces. A new roof was installed within the last two years.
Historic age has resulted in reduced property taxes. The offering is for sale.
Key Highlights
- Prominent frontage and visibility along South Andrews Avenue
- Quality interior finishes including original stone entry, hardwood floors, and solid wood doors
- Office layout with executive offices, conference rooms, reception, and support areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$101,984
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,039,680
$2.0M
Cap Rate 7%
$1,456,914
$1.5M
Cap Rate 9%
$1,133,156
$1.1M
Market Conditions
NOI Build-Up for 3,550 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$161.9K $45.60/SF
− Vacancy
−$25.9K −$7.30/SF
EGI
$136.0K $38.30/SF
− OpEx
−$34.0K −$9.58/SF
NOI
$102.0K $28.73/SF
Area
Fort Lauderdale, FL
Vacancy
16.00%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,039,680
Cap Rate 7%
$1,456,914
Cap Rate 9%
$1,133,156
Alternative Uses
Best Use
Office B
$1.46M
$1.27M – $1.70M
NOI $101,984 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.39M
$2.09M – $2.78M
NOI $166,992 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,949
Businesses Nearby
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Fort Lauderdale, FL
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Frequently Asked Questions
What type of property is this?
Office building - Office building with executive offices, conference rooms, reception, support areas, and approximately 24 parking spaces including 11 covered.
Where is this office building located?
The property is located at 1301 S Andrews Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Prominent frontage and visibility along South Andrews Avenue; Quality interior finishes including original stone entry, hardwood floors, and solid wood doors; Office layout with executive offices, conference rooms, reception, and support areas
