Charter School Investment
For Sale
Contact for pricing
Pending
3500 N Andrews Ave Ext, Pompano Beach, FL 33064
Two charter schools with long-term leases and strong enrollment.
Property Size26,708 SF
Lot Size1.68 Acres
Days on Market744
Property Features for 3500 N Andrews Ave Ext
General Information
Standard status
Pending
Size
26,708 SF
Lot size
1.68 Acres
Property subtype
Special Purpose
Lease Type
NNN
Net Operating Income
$820,000
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
STL Commercial
Listed By:
David Richman · License #FL
Source:
Crexi
Added: Aug 19, 2024
Changed: Aug 31
Last Checked: Sep 1 at 5:48AM
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 portfolio includes Andrews High Charter School and Main Street High Charter School, both leased on a triple net (NNN) basis with zero landlord responsibilities. The tenant, North Star Academics Inc, manages school operations through Edison Learning Inc, a non-profit organization funded by long-term government contracts. Edison Learning operates over 350 schools worldwide. Both charter schools have received commendable ratings from the School Board of Broward and Osceola County. The tenant has operated at both locations for over 13 years, demonstrating a strong commitment. Both schools have experienced year-over-year increases in student enrollment. Andrews High Charter School, located at 3500 N. Andrews Ave, Pompano Beach, features a 13,126 square foot building on a 69,224 square foot lot (1.59 acres). It offers ample parking at a ratio of 6 spaces per 1,000 square feet and is located next to Pompano Beach’s Tri Rail train station. The property is zoned B-3, allowing for office, retail, self-storage, or mixed-use developments. Andrews High has increased enrollment from 350 to 363 students in the past year. Main St High Charter School, located at 1100 N Main St, Kissimmee, features a 16,782 square foot building on a 73,355 square foot lot (1.68 acres). Main Street High has increased enrollment from 336 to 350 students in the past year. The current net operating income (NOI) for the portfolio is $820,000 annually.
Key Highlights
- Secure investment with single tenant Triple Net (NNN) leases and zero landlord responsibilities.
- Portfolio NOI of $820,000 annually, offered at a 7.69% cap rate.
- Leased to NorthStar Academics Inc, with school operations managed by Edison Learning Inc.
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
$648,812
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
6.08%
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%
$12,976,240
$13.0M
Cap Rate 7%
$9,268,743
$9.3M
Cap Rate 9%
$7,209,022
$7.2M
Market Conditions
NOI Build-Up for 26,708 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
$961.5K $36.00/SF
− Vacancy
−$34.6K −$1.30/SF
EGI
$926.9K $34.70/SF
− OpEx
−$278.1K −$10.41/SF
NOI
$648.8K $24.29/SF
Area
Pompano Beach, FL
Vacancy
3.60%
Lease Rate
$36.00 /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%
$12,976,240
Cap Rate 7%
$9,268,743
Cap Rate 9%
$7,209,022
Alternative Uses
Best Use
Retail
$9.27M
$8.11M – $10.81M
NOI $648,812 @ 7.0% cap · market cap 6.08%
Second Best
Office B
$7.53M
$6.59M – $8.79M
NOI $527,136 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$10.42M
$9.11M – $12.15M
NOI $729,128 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
844
Businesses Nearby
Explore this area
Business Placement
Demographics for 33064, FL
62,429
Population
26,641
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
82%
High-School Grad
10.2 sq mi
ZIP Area
6,120
Density / Sq Mi
$66,269
Median Household Income
$35,090
Median Earnings
$1,689
Median Rent
$293,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
School - Two charter schools with long-term leases and strong enrollment.
Where is this school located?
The property is located at 3500 N Andrews Ave Ext Pompano Beach, FL.
What is the asking price?
The asking price for this property is $10,666,666.
What are key features of this property?
This property features: Secure investment with single tenant Triple Net (NNN) leases and zero landlord responsibilities.; Portfolio NOI of $820,000 annually, offered at a 7.69% cap rate.; Leased to NorthStar Academics Inc, with school operations managed by Edison Learning Inc.
