3500 Andrews Avenue Ext, Pompano Beach, FL 33064

Property Details for 3500 Andrews Avenue Ext

Property type

Specialty properties

Property subtype

Schools

Description

This exceptional investment opportunity presents a portfolio of two charter schools in Pompano Beach and Kissimmee, Florida, totaling 26,708 square feet on 132,168 square feet of land. The portfolio boasts a 7.69% cap rate and a current NOI of $820,000. Both schools, Andrews High Charter School and Main Street High Charter School, are leased on a triple-net (NNN) basis to NorthStar Academics Inc., managed by Edison Learning Inc., a highly reputable operator of over 350 schools globally. These non-profit schools benefit from long-term government contracts, ensuring a stable revenue stream. Andrews High, located at 3500 N. Andrews Ave, Pompano Beach, FL 33064, features a 13,126 sq ft building on a 69,224 sq ft lot (1.59 acres) and has shown consistent year-over-year enrollment growth. The lease expires July 31, 2028, with three 5-year options. Main Street High, situated at 1100 N Main St, Kissimmee, FL 34741, comprises a 16,782 sq ft building on a 73,355 sq ft lot (1.68 acres), also demonstrating consistent enrollment increases. Its lease expires September 30, 2029, with two 5-year options. Both schools have received top ratings from their respective county school boards, reflecting their high quality and strong community standing. The tenant's long-term commitment (14+ years at each location) and the absolute NNN lease structure minimize landlord responsibilities, making this a secure and attractive investment. The properties are zoned for various uses, offering potential for future redevelopment. The asking price is $10,666,666, representing a compelling price per square foot of $399.38.

Location Insight

City

Pompano Beach

County

Broward

State

Florida

Longitude

-80.1351

Latitude

26.2733