Freestanding Multi-Tenant
For Sale
$4,900,000
815 NE 13th Street, Fort Lauderdale, FL 33304
Three-suite freestanding building includes an operating coffee shop and barber salon plus a former restaurant with drive-thru and patio.
Property Size8,495 SF
Lot Size0.62 Acres
Price / SF$576.81
Days on Market207
Property Features for 815 NE 13th Street
General Information
Standard status
Active
Size
8,495 SF
Lot size
0.62 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$51,837
Amenities
drive-thru
commercial kitchen
bar area
outdoor patio
onsite parking
flexible layouts
Central air
Central Air Cooling
Central Heating
Building Details
Year Built
1961
Tenancy
Multi
Listing Agency:
COLDWELL BANKER REALTY
(954) 847-5000
Listed By:
TIMOTHY J SINGER · License #F10547944
Source:
Corcoran
Added: Jan 22
Changed: Aug 17
Last Checked: Aug 17 at 11:46AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
A freestanding, multi-tenant commercial property featuring three distinct commercial suites within an approximately 18,495 SF building. Two suites are currently operating under long-term leases: a boutique barber salon and a coffee shop. The former Milk Money restaurant suite includes a fully built-out commercial kitchen, a substantial bar, outdoor patio space, and drive-thru capability.
The restaurant space is currently available and may be leased as a single approximately 5,700 SF premises or divided into two separate suites: a front space with built-in bar and customer seating areas (approximately 2,648 SF), and a rear space with the commercial kitchen and restaurant infrastructure plus drive-thru capability (approximately 3,052 SF). The property includes ample onsite parking, strong visibility and street presence, and flexible commercial layouts with existing ingress and egress.
Located at 815 NE 13th Street in Fort Lauderdale, the property is minutes from Downtown Fort Lauderdale and nearby destinations including Las Olas Boulevard, Flagler Village, Victoria Park, Wilton Manors, Fort Lauderdale Beach, Federal Highway (US-1), and I-95. Owner financing may be available to qualified buyers, and lease opportunities are also available. Showings are strictly by appointment only; please do not disturb tenants or customers. All information is deemed reliable but not guaranteed; buyers should independently verify all matters deemed material.
The restaurant space is currently available and may be leased as a single approximately 5,700 SF premises or divided into two separate suites: a front space with built-in bar and customer seating areas (approximately 2,648 SF), and a rear space with the commercial kitchen and restaurant infrastructure plus drive-thru capability (approximately 3,052 SF). The property includes ample onsite parking, strong visibility and street presence, and flexible commercial layouts with existing ingress and egress.
Located at 815 NE 13th Street in Fort Lauderdale, the property is minutes from Downtown Fort Lauderdale and nearby destinations including Las Olas Boulevard, Flagler Village, Victoria Park, Wilton Manors, Fort Lauderdale Beach, Federal Highway (US-1), and I-95. Owner financing may be available to qualified buyers, and lease opportunities are also available. Showings are strictly by appointment only; please do not disturb tenants or customers. All information is deemed reliable but not guaranteed; buyers should independently verify all matters deemed material.
Key Highlights
- 3 commercial suites in an 8,495 SF freestanding building on a 27,094 SF lot
- Former Milk Money restaurant space (approx. 5,700 SF) includes fully built‑out commercial kitchen, substantial bar, and outdoor patio
- Restaurant space offers rare drive‑thru capability; front space approx. 2,648 SF and rear space approx. 3,052 SF can be leased separately
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
$171,015
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
3.49%
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%
$3,420,300
$3.4M
Cap Rate 7%
$2,443,071
$2.4M
Cap Rate 9%
$1,900,167
$1.9M
Market Conditions
NOI Build-Up for 8,495 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
$244.7K $28.80/SF
− Vacancy
−$16.6K −$1.96/SF
EGI
$228.0K $26.84/SF
− OpEx
−$57.0K −$6.71/SF
NOI
$171.0K $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%
$3,420,300
Cap Rate 7%
$2,443,071
Cap Rate 9%
$1,900,167
Alternative Uses
Best Use
Specialty Retail
$2.44M
$2.14M – $2.85M
NOI $171,015 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.71M
$5.00M – $6.66M
NOI $399,605 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,497
Businesses Nearby
142k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 53%
Apparel 30%
Dining 14%
Shops & Services 2%
Trader Joe's
Groceries
42,150 visits/mo
0.5 miles
Publix
Groceries
32,823 visits/mo
0.3 miles
Nordstrom Rack
Apparel
23,612 visits/mo
0.5 miles
Dillard's
Apparel
18,596 visits/mo
0.5 miles
Starbucks
Dining
14,597 visits/mo
0.4 miles
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
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?
Drive through restaurant - Three-suite freestanding building includes an operating coffee shop and barber salon plus a former restaurant with drive-thru and patio.
Where is this drive through restaurant located?
The property is located at 815 NE 13th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 3 commercial suites in an 8,495 SF freestanding building on a 27,094 SF lot; Former Milk Money restaurant space (approx. 5,700 SF) includes fully built‑out commercial kitchen, substantial bar, and outdoor patio; Restaurant space offers rare drive‑thru capability; front space approx. 2,648 SF and rear space approx. 3,052 SF can be leased separately
