3101 Oakland Park BlvdFort Lauderdale, FL 33311

Property Details for 3101 Oakland Park Blvd

Year built

1972

Construction

CONCRETE

Lot size

0.51 AC

Property size (Sq ft)

2,888 SF

Zone code

B-2

Property type

Retail properties

Property subtype

Turn key restaurants

APN

49-42-19-00-0181

APU

494219000181

Description

This exceptional investment opportunity presents a fee-simple ownership of a 2,888 square foot IHOP restaurant located at 3101 W Oakland Park Blvd, Fort Lauderdale, FL 33311. The property sits on a 22,111 square foot lot in a high-traffic area, boasting a daily vehicle count exceeding 107,000 vehicles. This single-tenant, absolute NNN lease with the largest IHOP franchisee (over 150 restaurants in Florida and Southern Georgia) offers significant stability and predictable income. The lease commenced January 24, 1972, and currently has approximately 2.2 years remaining, with two 5-year options. The property features a 5.00% cap rate and a Net Operating Income (NOI) of $171,732. Built in 1972 and renovated in 2022, the building is situated in a B-2 General Business zone. The asking price is $3,434,643, translating to $1,189.28 per square foot. The property's prime location within a major retail corridor, surrounded by national retailers and new housing developments, ensures continued strong performance. This offering is ideal for 1031 exchange buyers seeking a secure, high-performing asset in a thriving market. The lease includes a fixed base monthly rent, supplemented by a percentage rent equal to 8% of gross annual sales, paid bi-annually. This is a rare opportunity to acquire a well-established, high-performing IHOP in a prime Fort Lauderdale location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,262,160

  6.5%

  $1,165,071

  7%

  $1,081,851

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,149,996

  Geo Method

  $2,149,996

• Alternative Use

  Use

  Valuation

  Residential

  $982,781

  Hospitality

  $900,222

  Educational

  $748,974

  Medical

  $774,732

  Retail

  $1,165,071

Location Insight

City

Oakland Park

County

Broward

State

Florida

Latitude

26.1656

Longitude

-80.1874

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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