Freestanding Retail
For Sale
Contact for pricing
3451-3481 N Andrews Ave, Oakland Park, FL 33309
Freestanding retail building with a flexible multi-unit layout and on-site parking.
Property Size4,005 SF
Price / SF$405.26
Days on Market100
Property Features for 3451-3481 N Andrews Ave
General Information
Standard status
Active
Size
4,005 SF
Property subtype
RETAIL
Amenities
on-site parking
Listing Agency:
Native Realty
(954) 595-2999
Listed By:
Jaime Sturgis · License #B26041904
Source:
Moodyscre
Added: May 13
Changed: Aug 18
Last Checked: Aug 19 at 8:55AM
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 freestanding retail building offers a flexible multi-unit layout suitable for a variety of tenant configurations. The property includes on-site parking and benefits from strong visibility, supporting day-to-day storefront activity.
Located near Oakland Park’s Culinary Arts District on N Andrews Ave in Oakland Park, Florida, the center’s frontage position is intended to capture local retail demand. The property is offered for sale.
The building size is approximately 4,005 square feet, and the site is configured as a multi-unit retail asset with dedicated parking on-site.
Located near Oakland Park’s Culinary Arts District on N Andrews Ave in Oakland Park, Florida, the center’s frontage position is intended to capture local retail demand. The property is offered for sale.
The building size is approximately 4,005 square feet, and the site is configured as a multi-unit retail asset with dedicated parking on-site.
Key Highlights
- Freestanding retail building near Oakland Park’s Culinary Arts District
- Flexible multi‑unit layout
- Includes on‑site parking
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
$67,721
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
4.17%
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%
$1,354,420
$1.4M
Cap Rate 7%
$967,443
$967.4K
Cap Rate 9%
$752,456
$752.5K
Market Conditions
NOI Build-Up for 4,005 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
$105.7K $26.40/SF
− Vacancy
−$9.0K −$2.24/SF
EGI
$96.7K $24.16/SF
− OpEx
−$29.0K −$7.25/SF
NOI
$67.7K $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%
$1,354,420
Cap Rate 7%
$967,443
Cap Rate 9%
$752,456
Alternative Uses
Best Use
Retail
$967.4K
$846.5K – $1.13M
NOI $67,721 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,233 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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 South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding retail building with a flexible multi-unit layout and on-site parking.
Where is this retail space located?
The property is located at 3451-3481 N Andrews Ave Oakland Park, FL.
What is the asking price?
The asking price for this property is $1,623,056.
What are key features of this property?
This property features: Freestanding retail building near Oakland Park’s Culinary Arts District; Flexible multi‑unit layout; Includes on‑site parking
