701-705 N Andrews Ave - Flex FOR SALE


Fort Lauderdale, FL 33311- Progresso Village
$3,385,000 USD
954-245-3492
701-705 N Andrews Ave, Fort Lauderdale, FL for Sale
$3,385,000 USD
Flex - FOR SALE
1/17
null | 6.25% Cap Rate

701-705 N Andrews Ave
Fort Lauderdale, FL 33311
Progresso Village


HIGHLIGHTS

  • Located in Flagler Village, Fort Lauderdale’s premier lifestyle and creative district
  • Surrounded by high-profile developments including The Six13, The Gallery at Flagler Village, FAT Village Redevelopment, and DNA Towers
  • Walkable access to Brightline station, Las Olas Boulevard, and the arts/tech hubs of the MASS District and F.A.T. Village
  • Situated in a high-income trade area with a 3-mile average household income of $105,039

OVERVIEW

**CONTACT AARON O'CONNOR** 701 N Andrews Avenue presents a rare opportunity to acquire a fully leased, freestanding commercial asset in the heart of Downtown Fort Lauderdale’s rapidly transforming Flagler Village and Progresso Village neighborhoods. This ±5,168-square-foot concrete block building sits on a 0.25-acre parcel with high-visibility frontage along N Andrews Avenue—one of the area’s main north-south corridors experiencing significant residential, commercial, and mixed-use development. The property is currently leased to Come Together LLC on a triple-net (NNN) basis, generating an annual net operating income of $211,563, with a two-year lease term commencing at the close of escrow and one additional one-year option. This offering provides immediate in-place income with minimal landlord responsibilities, making it an ideal fit for passive investors seeking secure cash flow. With a 6.25% cap rate, the property is competitively priced at $3,385,000, offering strong fundamentals in a vibrant submarket known for high population growth (+8.4% since 2010), a burgeoning arts and tech scene, and ongoing urban renewal initiatives. Strategically located in the NWRAC-MUe (Northwest Regional Activity Center – Mixed Use East) zoning district, the site permits a broad range of commercial, residential, and cultural uses, allowing future redevelopment potential in a district designed to foster walkable, pedestrian-friendly environments with flexible building heights and density.

FOR SALE DETAILS

PRICE

$3,385,000 USD

PRICE/SF

$655 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

701 N ANDREWS – 6.25% CAP STNL

PROPERTY TYPE

Flex

ADD'L SUBTYPES

Freestanding, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1961

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.25

LAND SF

10,890

ZONING

NWRAC-Mue

APN/PARCEL ID

49-42-34-07-1200

ASK ABOUT THIS PROPERTY

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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Joseph ThomasMarcus & MillichapMore Info
954-245-3492

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.