Prime Land Assemblage For
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801 N Andrews Ave, Fort Lauderdale, FL 33311
1.63 acres near Downtown Fort Lauderdale with development potential.
Property Size20,900 SF
Lot Size1.63 Acres
Price / SF$440.19
Days on Market188
Property Features for 801 N Andrews Ave
General Information
Standard status
Active
Size
20,900 SF
Lot size
1.63 Acres
Property subtype
Land, Multifamily, Office
Zoning
NWRAC-MUne
Investment Type
Redevelopment
Building Details
Buildings
7
Tenancy
Multi
Listing Agency:
STL Commercial
(305) 972-7217
Listed By:
Alexandros Tsoulfas · License #3444839
Source:
Crexi
Added: Feb 16
Changed: Aug 19
Last Checked: Aug 22 at 6:41AM
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 STL Commercial
Investment Insights
Based on property information with market context.
This 1.63-acre land assemblage, totaling over 20,000 square feet of building space, is located just outside of Downtown Fort Lauderdale. The property has been rezoned to NWRAC-MUne, permitting construction up to 120 feet and supporting a variety of uses, including apartments, hotels, and retail spaces. The site currently generates income, with opportunities to increase revenue by leasing vacant spaces, providing financial flexibility during the holding period before development. Planned developments are underway leading up to the site. The property is Live Local (SB102) eligible and situated in a Qualified Opportunity Zone. The combined building size for office and multi-family structures is 20,900 square feet. The zoning allows for multi-family, hotel, retail, office, and restaurant uses. The allowed height is 120 feet as of right, with uncapped density subject to site design. The lot size is 71,249 square feet.
Key Highlights
- Prime 1.63‑acre land assemblage near Downtown Fort Lauderdale.
- Recently rezoned to NWRAC‑MUne, allowing for 120‑foot construction.
- Permitted uses include Apartments, Hotel, and Retail.
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
$600,415
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
6.53%
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%
$12,008,300
$12.0M
Cap Rate 7%
$8,577,357
$8.6M
Cap Rate 9%
$6,671,278
$6.7M
Market Conditions
NOI Build-Up for 20,900 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
$953.0K $45.60/SF
− Vacancy
−$152.5K −$7.30/SF
EGI
$800.6K $38.30/SF
− OpEx
−$200.1K −$9.58/SF
NOI
$600.4K $28.73/SF
Area
Fort Lauderdale, FL
Vacancy
16.00%
Lease Rate
$45.60 /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%
$12,008,300
Cap Rate 7%
$8,577,357
Cap Rate 9%
$6,671,278
Alternative Uses
Best Use
Office B
$8.58M
$7.51M – $10.01M
NOI $600,415 @ 7.0% cap · market cap 6.53%
Second Best
Retail
$5.32M
$4.65M – $6.20M
NOI $372,293 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$14.04M
$12.29M – $16.39M
NOI $983,136 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,145
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
Median Home Value
Market
Vacancy Rate% for Office in Fort Lauderdale, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 1.63 acres near Downtown Fort Lauderdale with development potential.
Where is this commercial land located?
The property is located at 801 N Andrews Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $9,200,000.
What are key features of this property?
This property features: Prime 1.63‑acre land assemblage near Downtown Fort Lauderdale.; Recently rezoned to NWRAC‑MUne, allowing for **120‑foot construction**.; Permitted uses include Apartments, Hotel, and Retail.
