Fully Leased Retail
For Sale
Contact for pricing
3351 N Andrews Ave, Fort Lauderdale, FL 33309
Fully leased retail property with strong visibility on N Andrews Avenue near Oakland Park Boulevard.
Property Size1,702 SF
Price / SF$478.43
Days on Market116
Property Features for 3351 N Andrews Ave
General Information
Standard status
Active
Size
1,702 SF
Property subtype
RETAIL
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Native Realty
(954) 595-2999
Listed By:
Jaime Sturgis · License #3246270
Source:
Moodyscre
Added: May 13
Changed: Aug 17
Last Checked: Jul 21 at 7:26PM
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 fully leased retail property is located in an established Fort Lauderdale corridor. The asset offers retail space totaling 1,702 square feet and is being sold as an income-producing, occupied commercial real estate offering.
Positioned for visibility along N Andrews Avenue near Oakland Park Boulevard, the property also benefits from convenient access to I-95, US-1, and Downtown Fort Lauderdale. The surrounding area includes a mix of residential and commercial uses.
For prospective tenants, buyers, and brokers, the combination of an active, leased retail setup and a prominent arterial location provides a straightforward option for those seeking a currently occupied retail asset in Fort Lauderdale.
Positioned for visibility along N Andrews Avenue near Oakland Park Boulevard, the property also benefits from convenient access to I-95, US-1, and Downtown Fort Lauderdale. The surrounding area includes a mix of residential and commercial uses.
For prospective tenants, buyers, and brokers, the combination of an active, leased retail setup and a prominent arterial location provides a straightforward option for those seeking a currently occupied retail asset in Fort Lauderdale.
Key Highlights
- Fully leased commercial retail property
- Strong visibility along N Andrews Avenue near Oakland Park Boulevard
- Convenient access to I‑95, US‑1, and Downtown Fort Lauderdale
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
$30,318
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
3.72%
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%
$606,360
$606.4K
Cap Rate 7%
$433,114
$433.1K
Cap Rate 9%
$336,867
$336.9K
Market Conditions
NOI Build-Up for 1,702 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
$47.0K $27.60/SF
− Vacancy
−$3.7K −$2.15/SF
EGI
$43.3K $25.45/SF
− OpEx
−$13.0K −$7.63/SF
NOI
$30.3K $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%
$606,360
Cap Rate 7%
$433,114
Cap Rate 9%
$336,867
Alternative Uses
Best Use
Retail
$433.1K
$379.0K – $505.3K
NOI $30,318 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,062 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,260
Businesses Nearby
233k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 31%
Dining 29%
Groceries 23%
Home Improvements & Furnishings 15%
Publix
Groceries
44,370 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
34,783 visits/mo
0.5 miles
McDonald's
Dining
22,749 visits/mo
0.2 miles
Dollar Tree
Shops & Services
17,989 visits/mo
0.2 miles
7-Eleven
Shops & Services
16,852 visits/mo
0.4 miles
Demographics for 33309, FL
37,642
Population
14,783
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
9.7 sq mi
ZIP Area
3,881
Density / Sq Mi
$73,496
Median Household Income
$35,850
Median Earnings
$1,829
Median Rent
$309,100
Median Home Value
Market
Vacancy Rate% for Retail in Fort Lauderdale, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully leased retail property with strong visibility on N Andrews Avenue near Oakland Park Boulevard.
Where is this retail space located?
The property is located at 3351 N Andrews Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $814,285.
What are key features of this property?
This property features: Fully leased commercial retail property; Strong visibility along N Andrews Avenue near Oakland Park Boulevard; Convenient access to I‑95, US‑1, and Downtown Fort Lauderdale
