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312-322 NE 38th St
Oakland Park, FL 33334
38th Street Plaza · Retail Property For Sale
Investment Highlights
- Value-add retail investment within an emerging Oakland Park redevelopment zone
- Positioned on NE 38th Street with 94 feet of frontage and signage opportunities
- Six fully leased tenant spaces including restaurant and service retail with below-market rents
- Two units are on flexible, month-to-month leases for strategic repositioning
Executive Summary
Value-add retail strip center located in the heart of Oakland Park's rapidly growing NE 38th Street corridor. 5,562 SF building with 6 tenants including a restaurant, laundromat, retail stores, and tax office. Current rents are significantly below market, offering approximately $44,000/year in upside potential. Recent capital improvements totaling $191,000 include a full roof replacement, new electrical, and new plumbing. Two units are month-to-month providing immediate flexibility for a new owner. Property sits within Oakland Park's Downtown Redevelopment Area — one of Broward County's most active urban growth corridors.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,016 SF
Building Class
C
Year Built
1980
Price
$1,700,000
Price Per SF
$282.58
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.47
Lot Size
0.29 AC
Opportunity Zone
Yes
Zoning
B-1 - General Business
Parking
12 Spaces (1.99 Spaces per 1,000 SF Leased)
Frontage
94’ on NE 38th St
Amenities
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 49-42-22-04-0020 | Improvements Assessment | $793,930 |
| Land Assessment | $254,040 | Total Assessment | $1,047,970 |
Property Taxes
Parcel Number
49-42-22-04-0020
Land Assessment
$254,040
Improvements Assessment
$793,930
Total Assessment
$1,047,970
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