Freestanding Restaurant with Full
For Sale
Contact for pricing
3451-3481 N Andrews Ave, Oakland Park, FL 33309
Freestanding restaurant with full bar on two contiguous parcels, fronting N Andrews Ave.
Property Size9,641 SF
Price / SF$404.52
Days on Market99
Property Features for 3451-3481 N Andrews Ave
General Information
Standard status
Active
Size
9,641 SF
Property subtype
RETAIL
Site & Location
Pylon Signage
Yes
Road Access
Yes
Additional Details
Equipment Included
Yes
Listing Agency:
Native Realty
(954) 595-2999
Listed By:
Jaime Sturgis · License #B26041904
Source:
Moodyscre
Added: May 13
Changed: Aug 18
Last Checked: Aug 18 at 10:42AM
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 restaurant property includes a full bar, kitchen, and equipment, supported by two contiguous parcels fronting N Andrews Ave. The offering also includes a retail strip comprised of four units, with monument signage at the site. Total property size is 9,641 square feet.
The location provides Andrews Ave frontage with strong daily traffic counts, which can support visibility for both the restaurant and the retail strip.
The combined configuration offers a built-in mix of restaurant operations and additional retail unit presence, with the property positioned for either a user or an investor seeking stable income and potential value-add improvements.
The location provides Andrews Ave frontage with strong daily traffic counts, which can support visibility for both the restaurant and the retail strip.
The combined configuration offers a built-in mix of restaurant operations and additional retail unit presence, with the property positioned for either a user or an investor seeking stable income and potential value-add improvements.
Key Highlights
- 9,641 SF freestanding restaurant and retail strip
- Full bar plus kitchen and equipment
- Two contiguous parcels with Andrews Ave frontage
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
Retail
$2.33M
$2.04M – $2.72M
NOI $163,022 @ 7.0% cap · market cap 4.18%
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
Paved road access
Location Intelligence
Trade Area within ½ mile
2,260
Businesses Nearby
233k
Monthly Visits Nearby
Under-served
Demand for This Use
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?
Conventional restaurant - Freestanding restaurant with full bar on two contiguous parcels, fronting N Andrews Ave.
Where is this conventional restaurant 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 $3,900,000.
What are key features of this property?
This property features: 9,641 SF freestanding restaurant and retail strip; Full bar plus kitchen and equipment; Two contiguous parcels with Andrews Ave frontage
