Leased Storefront
New
For Sale
$814,285
3351 North Andrews Avenue, Oakland Park, FL 33309
Occupied commercial building with B-1 zoning, on-site parking, and a lease extending through October 2030.
Property Size1,702 SF
Lot Size0.37 Acres
Price / SF$478.43
Days on Market2
Property Features for 3351 North Andrews Avenue
General Information
Standard status
Active
Size
1,702 SF
Total Parking Spaces
11
Lot size
0.37 Acres
Property subtype
Retail - Street Retail
Zoning
B-1
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
1,702 SF
Buildings
1
Listing Agency:
Native Realty
Listed By:
Contact Us
Source:
Commercialcafe
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 3:00AM
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 leased storefront property at 3351 North Andrews Avenue includes approximately 1,702 square feet of building area on a 16,200-square-foot lot. The site is fully occupied and provides 11 on-site parking spaces. B-1 zoning supports a range of neighborhood commercial uses, subject to applicable requirements.
The property fronts N Andrews Avenue, a north–south arterial with access to Oakland Park Boulevard and nearby residential and commercial areas. Downtown Fort Lauderdale, I-95, and US-1 are also accessible from the site. The current lease runs through October 31, 2030, providing an established tenancy within the Broward County submarket.
The property fronts N Andrews Avenue, a north–south arterial with access to Oakland Park Boulevard and nearby residential and commercial areas. Downtown Fort Lauderdale, I-95, and US-1 are also accessible from the site. The current lease runs through October 31, 2030, providing an established tenancy within the Broward County submarket.
Key Highlights
- Approximately 1,702 SF building on a 16,200 SF lot
- Fully occupied leased property with term through October 31, 2030
- B‑1 zoning allows a broad range of neighborhood commercial 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
$28,779
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
3.53%
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%
$575,580
$575.6K
Cap Rate 7%
$411,129
$411.1K
Cap Rate 9%
$319,767
$319.8K
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
$44.9K $26.40/SF
− Vacancy
−$3.8K −$2.24/SF
EGI
$41.1K $24.16/SF
− OpEx
−$12.3K −$7.25/SF
NOI
$28.8K $16.91/SF
Area
Broward County, FL
Vacancy
8.50%
Lease Rate
$26.40 /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%
$575,580
Cap Rate 7%
$411,129
Cap Rate 9%
$319,767
Alternative Uses
Best Use
Retail
$411.1K
$359.7K – $479.7K
NOI $28,779 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$863.5K
$755.6K – $1.01M
NOI $60,445 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,815
Businesses Nearby
214k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Superstores 33%
Dining 20%
Hotels & Casinos 1%
BJ's Wholesale Club
Superstores
70,632 visits/mo
0.4 miles
BJ's Gas
Shops & Services
39,350 visits/mo
0.4 miles
McDonald's
Dining
22,222 visits/mo
0.5 miles
Mobil
Shops & Services
15,008 visits/mo
0.5 miles
Chevron
Shops & Services
11,606 visits/mo
0.5 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 South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Fanny Flowers — 699 E Oakland Park Blvd, Oakland Park, FL 33334
- Delightful Fruit Flowers — 115 NW 43rd Ct, Fort Lauderdale, FL 33309
Frequently Asked Questions
What type of property is this?
Storefront property - Occupied commercial building with B-1 zoning, on-site parking, and a lease extending through October 2030.
Where is this storefront property located?
The property is located at 3351 North Andrews Avenue Oakland Park, 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: Approximately 1,702 SF building on a 16,200 SF lot; Fully occupied leased property with term through October 31, 2030; B‑1 zoning allows a broad range of neighborhood commercial uses
