Two-Parcel Mixed-Use
For Sale
Contact for pricing
3419 & 345 N Andrews Avenue #3419 & 3451, Oakland Park, FL 33309
Includes a freestanding restaurant and four-unit retail building with one available space.
Property Size9,641 SF
Price / SF$404.52
Days on Market307
Property Features for 3419 & 345 N Andrews Avenue #3419 & 3451
General Information
Standard status
Active
Size
9,641 SF
Class
B
Property subtype
Office
Zoning
B-1
Occupancy
75%
Lease Type
NNN
Additional Details
Grease Trap
Yes
Building Details
Year Built
1960
Buildings
2
Tenancy
Multi
Listing Agency:
Native Realty
(954) 595-2999
Listed By:
Jaime Sturgis · License #3246270
Source:
Crexi
Added: Oct 30, 2025
Changed: Aug 31
Last Checked: Aug 30 at 2:36PM
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 mixed-use offering combines two parcels with a freestanding restaurant and a separate four-unit retail building. The restaurant includes a full kitchen, bar, grease trap, and private office. The retail component has three occupied units and one available unit, creating a combination of in-place tenancy and additional space. The property totals 9,641 square feet, was built in 1960, and is zoned B-1.
The parcels are positioned along N Andrews Avenue in Oakland Park, with access to the corridor connecting Oakland Park and Wilton Manors. Downtown Oakland Park is nearby, along with surrounding culinary and retail activity. The configuration accommodates both restaurant and retail uses within one commercial holding.
The parcels are positioned along N Andrews Avenue in Oakland Park, with access to the corridor connecting Oakland Park and Wilton Manors. Downtown Oakland Park is nearby, along with surrounding culinary and retail activity. The configuration accommodates both restaurant and retail uses within one commercial holding.
Key Highlights
- 9,641‑square‑foot mixed‑use offering comprising two parcels
- Freestanding restaurant includes full kitchen, bar, grease trap, and private office
- Four‑unit retail building with three leased units and one available
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
$185,599
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
4.76%
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%
$3,711,980
$3.7M
Cap Rate 7%
$2,651,414
$2.7M
Cap Rate 9%
$2,062,211
$2.1M
Market Conditions
NOI Build-Up for 9,641 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
$266.1K $27.60/SF
− Vacancy
−$18.6K −$1.93/SF
EGI
$247.5K $25.67/SF
− OpEx
−$61.9K −$6.42/SF
NOI
$185.6K $19.25/SF
Area
Broward County, FL
Vacancy
7.00%
Lease Rate
$27.60 /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%
$3,711,980
Cap Rate 7%
$2,651,414
Cap Rate 9%
$2,062,211
Alternative Uses
Best Use
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,599 @ 7.0% cap · market cap 4.76%
Second Best
Mixed Use
$2.38M
$2.08M – $2.77M
NOI $166,307 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$4.89M
$4.28M – $5.71M
NOI $342,390 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Apparel 19%
Dining 8%
Exxon
Shops & Services
10,469 visits/mo
0.1 miles
Speedway
Shops & Services
4,320 visits/mo
0.1 miles
Goodwill
Apparel
3,865 visits/mo
0.2 miles
Jimmy John's
Dining
1,570 visits/mo
0.2 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.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a freestanding restaurant and four-unit retail building with one available space.
Where is this mixed-use property located?
The property is located at 3419 & 345 N Andrews Avenue #3419 & 3451 Oakland Park, FL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 9,641‑square‑foot mixed‑use offering comprising two parcels; Freestanding restaurant includes full kitchen, bar, grease trap, and private office; Four‑unit retail building with three leased units and one available
