3500 Andrews Avenue ExtPompano Beach, FL 33064

Property Details for 3500 Andrews Avenue Ext

Property size (Sq ft)

26,708 SF

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

Latitude

26.2733

Longitude

-80.1351

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