2759 Oakland Park BlvdOakland Park, FL 33311

Property Details for 2759 Oakland Park Blvd

Year built

1985

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.64 AC

Property size (Sq ft)

2,706 SF

Zone code

B-1

Property type

Retail properties

Property subtype

Turn key restaurants

APN

49-42-20-01-0014

APU

494220010014

Description

This exceptional single-tenant retail property at 2759 W Oakland Park Blvd, Oakland Park, FL 33311, presents a compelling investment opportunity. The 2,706 square foot building, constructed in 1985 and renovated in 2023, sits on a 0.64-acre lot and boasts 36 parking spaces. Currently leased under a NNN (Net, Net, Net) agreement with a single tenant, the property offers a stabilized investment with a 4.68% cap rate and a strong net operating income (NOI) of $87,947. The lease, commencing December 1, 2022, and expiring November 30, 2027, has a remaining term of three years, with two 2-year renewal options. Rent increases at 4% annually provide predictable growth and enhanced long-term profitability. The property is zoned B-1 and benefits from its prime location on a busy thoroughfare in Oakland Park, ensuring high visibility and accessibility. The hassle-free investment experience is further enhanced by the NNN lease structure, which places responsibility for property expenses (taxes, insurance, and maintenance) on the tenant. This 100% occupied, Class B property offers a significant return on investment with minimal management requirements. The asking price is $1,880,000, translating to a price per square foot of $694.75.

• CAP approach

  CAP return

  Valuation

  6%

  $1,182,619

  6.5%

  $1,091,648

  7%

  $1,013,674

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,014,504

  Geo Method

  $2,014,504

• Alternative Use

  Use

  Valuation

  Residential

  $920,846

  Hospitality

  $843,490

  Educational

  $701,774

  Medical

  $725,909

  Retail

  $1,091,648

Location Insight

City

Oakland Park

County

Broward

State

Florida

Latitude

26.1659

Longitude

-80.1805

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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