Mixed-Use Property in Coastal
For Sale
Contact for pricing
3345-3347 NE 32nd Ave, Fort Lauderdale, FL 33308
Mixed-use property with retail and residential units in Fort Lauderdale.
Property Size3,612 SF
Price / SF$400
Days on Market150
Property Features for 3345-3347 NE 32nd Ave
General Information
Standard status
Active
Size
3,612 SF
Total Parking Spaces
4
Property subtype
Mixed Use, Multifamily, Office, Retail
Zoning
Community Business (CB)
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1959
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Blanca Commercial Real Estate, Inc.
(954) 336-9287
Listed By:
Cary Cohen · License #FL SL3069720
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Aug 11 at 2:12PM
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 Blanca Commercial Real Estate, Inc.
Investment Insights
Based on property information with market context.
Galt Ocean Place is a mixed-use property featuring approximately 3,612 square feet of space. It includes ground-floor retail space and two residential units on the second floor. Located in Fort Lauderdale’s North Beach Restaurants and Shoppes district, the property benefits from a coastal location. The current tenancy is month-to-month, presenting an opportunity for owner-users seeking a coastal location or investors looking to reposition the asset with new tenants. The Community Business zoning (CB) allows for various potential uses, supporting multiple operating and tenancy strategies. The property is situated within a walkable coastal corridor with a high concentration of high-rise condominiums, providing an affluent customer base. This environment supports demand for retail and professional services. The mixed-use configuration and zoning allowances make this property a compelling acquisition.
Key Highlights
- Irreplaceable coastal location in Fort Lauderdale's North Beach Restaurants and Shoppes district.
- Mixed‑use property with ground‑floor retail and two residential units.
- Flexible Community Business (CB) zoning allows for a myriad of potential uses.
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
$64,341
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
4.45%
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%
$1,286,820
$1.3M
Cap Rate 7%
$919,157
$919.2K
Cap Rate 9%
$714,900
$714.9K
Market Conditions
NOI Build-Up for 3,612 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
$99.7K $27.60/SF
− Vacancy
−$7.8K −$2.15/SF
EGI
$91.9K $25.45/SF
− OpEx
−$27.6K −$7.63/SF
NOI
$64.3K $17.81/SF
Area
Fort Lauderdale, FL
Vacancy
7.80%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,286,820
Cap Rate 7%
$919,157
Cap Rate 9%
$714,900
Alternative Uses
Best Use
Retail
$919.2K
$804.3K – $1.07M
NOI $64,341 @ 7.0% cap · market cap 4.45%
Second Best
Mixed Use
$791.8K
$692.8K – $923.8K
NOI $55,426 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$2.43M
$2.12M – $2.83M
NOI $169,908 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,450
Businesses Nearby
Explore this area
Business Placement
Demographics for 33308, FL
29,519
Population
23,230
Households
1.3
Avg Household Size
57
Median Age
56%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
6,417
Density / Sq Mi
$83,413
Median Household Income
$58,600
Median Earnings
$1,850
Median Rent
$536,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with retail and residential units in Fort Lauderdale.
Where is this mixed-use property located?
The property is located at 3345-3347 NE 32nd Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,444,800.
What are key features of this property?
This property features: Irreplaceable coastal location in Fort Lauderdale's North Beach Restaurants and Shoppes district.; Mixed‑use property with ground‑floor retail and two residential units.; Flexible Community Business (CB) zoning allows for a myriad of potential uses.
