Waterside Restaurant
For Sale
Contact for pricing
3445 Griffin Rd, Fort Lauderdale, FL 33312
Freestanding restaurant with a large bar, entertainment stage, canal-side dining, and C2 zoning.
Property Size6,242 SF
Lot Size0.71 Acres
Price / SF$688.88
Days on Market207
Property Features for 3445 Griffin Rd
General Information
Standard status
Active
Size
6,242 SF
Class
C
Total Parking Spaces
63
Lot size
0.71 Acres
Property subtype
Business for Sale, Retail
Zoning
C2
Site & Location
Frontage
183 ft
Traffic Count
37,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Restaurant
Seating Capacity
250
Patio
Yes
Additional Details
Business Included
Yes
Amenities
stage
lighted fountains
Building Details
Year Built
1979
Buildings
1
Stories
1
Units
1
Listing Agency:
Transworld Commercial Real Estate
Listed By:
Alan Kaye · License #FL
Source:
Crexi
Added: Feb 7
Changed: Aug 31
Last Checked: Aug 30 at 10:05PM
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 Transworld Commercial Real Estate
Investment Insights
Based on property information with market context.
This freestanding conventional restaurant includes a 6,242 square foot one-story building constructed in 1979 on a 30,923 square foot corner site. The layout accommodates 250+ guests and features a front bar, entertainment stage, indoor and waterside dining, and three lighted fountains along the canal. The sale also includes the restaurant business.
The property fronts Griffin Road for 183 linear feet and benefits from reported traffic of approximately 37,000+ cars per day. It is located minutes west of I-95 and offers 63 parking spaces on the west side of the building. Recent improvements include a roof replacement approximately 6 months ago, while building systems include two 12 Ton A/C units.
Back-of-house features include a walk-in cooler, exterior walk-in freezer, two rear ice machines, two dry storage areas, wine storage, and an owner’s office with a bathroom. C2 zoning is reported for the property.
The property fronts Griffin Road for 183 linear feet and benefits from reported traffic of approximately 37,000+ cars per day. It is located minutes west of I-95 and offers 63 parking spaces on the west side of the building. Recent improvements include a roof replacement approximately 6 months ago, while building systems include two 12 Ton A/C units.
Back-of-house features include a walk-in cooler, exterior walk-in freezer, two rear ice machines, two dry storage areas, wine storage, and an owner’s office with a bathroom. C2 zoning is reported for the property.
Key Highlights
- 6,242 +/- square foot freestanding restaurant on a 30,923 +/- square‑foot corner site
- Canal‑side dining with three lighted fountains and indoor and outdoor entertainment areas
- 183 linear feet of frontage on Griffin Road with 37,000+/- cars passing daily
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
$125,659
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
2.92%
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%
$2,513,180
$2.5M
Cap Rate 7%
$1,795,129
$1.8M
Cap Rate 9%
$1,396,211
$1.4M
Market Conditions
NOI Build-Up for 6,242 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
$179.8K $28.80/SF
− Vacancy
−$12.2K −$1.96/SF
EGI
$167.5K $26.84/SF
− OpEx
−$41.9K −$6.71/SF
NOI
$125.7K $20.13/SF
Area
Fort Lauderdale, FL
Vacancy
6.80%
Lease Rate
$28.80 /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%
$2,513,180
Cap Rate 7%
$1,795,129
Cap Rate 9%
$1,396,211
Alternative Uses
Best Use
Specialty Retail
$1.80M
$1.57M – $2.09M
NOI $125,659 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.19M
$3.67M – $4.89M
NOI $293,624 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
37,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
50k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 84%
Shops & Services 9%
Dining 5%
Beauty & Spa 2%
Publix
Groceries
41,766 visits/mo
0.4 miles
AutoZone
Shops & Services
4,509 visits/mo
0.4 miles
Antonio's Pizza
Dining
2,562 visits/mo
0.4 miles
Salon Centric
Beauty & Spa
1,050 visits/mo
0.2 miles
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
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?
Conventional restaurant - Freestanding restaurant with a large bar, entertainment stage, canal-side dining, and C2 zoning.
Where is this conventional restaurant located?
The property is located at 3445 Griffin Rd Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: 6,242 +/- square foot freestanding restaurant on a 30,923 +/- square‑foot corner site; Canal‑side dining with three lighted fountains and indoor and outdoor entertainment areas; 183 linear feet of frontage on Griffin Road with 37,000+/- cars passing daily
