Downtown Hollywood Condo with Ocean
For Sale
$399,000
1720 Harrison St 17E-F, Hollywood, FL 33020
Four condo units in Downtown Hollywood with ocean views.
Property Size1,350 SF
Price / SF$147.23
Days on Market140
Property Features for 1720 Harrison St 17E-F
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,144
Building Details
Building Size
1,350 SF
Year Built
1963
Listing Agency:
RE/MAX 5 Star Realty
Listed By:
John DeMarco · License #A11487709
(954) 453-1000
Source:
Elliman
Added: Apr 24
Changed: Sep 5
Last Checked: Sep 10 at 8:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX 5 Star Realty
Investment Insights
Based on property information with market context.
Located in the heart of Downtown Hollywood on Young Circle, this property comprises four condo units with a total size of 2,710 square feet. Units #17E-F are currently vacant and offer the potential for conversion into either a live-work unit space or an apartment. Situated on the 17th story, all units feature floor-to-ceiling windows and doors, along with balconies providing views of Miami, Fort Lauderdale, and The Guitar at The Hard Rock. Building amenities include an on-site management office, swimming pool, laundry room, and gym. The building has recently passed its 40-year inspection. This space is suitable for an owner-user or an investor. The location is very bikeable with a bike score of 72 and a walker's paradise with a walk score of 91. The transit score is 45, indicating some transit options.
Key Highlights
- Prime Downtown Hollywood location on Young Circle with ocean views.
- Four condo units totaling 2,710 SF, offering flexibility for owner‑users or investors.
- Vacant units #17E‑F can be converted to a live/work space or apartment.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,585
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$731,700
$731.7K
Cap Rate 7%
$522,643
$522.6K
Cap Rate 9%
$406,500
$406.5K
Market Conditions
NOI Build-Up for 2,710 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$65.0K $24.00/SF
− Vacancy
−$6.5K −$2.40/SF
EGI
$58.5K $21.60/SF
− OpEx
−$22.0K −$8.10/SF
NOI
$36.6K $13.50/SF
Area
Hollywood, FL
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$731,700
Cap Rate 7%
$522,643
Cap Rate 9%
$406,500
Alternative Uses
Best Use
Office B
$747.4K
$654.0K – $872.0K
NOI $52,317 @ 7.0% cap · market cap 13.11%
Second Best
Mixed Use
$522.6K
$457.3K – $609.8K
NOI $36,585 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$1.06M
$927.6K – $1.24M
NOI $74,211 @ 7.0% cap · market cap 18.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,242
Businesses Nearby
Explore this area
Business Placement
Demographics for 33020, FL
45,044
Population
22,508
Households
2
Avg Household Size
41
Median Age
29%
College-Educated
89%
High-School Grad
6.0 sq mi
ZIP Area
7,507
Density / Sq Mi
$52,535
Median Household Income
$32,449
Median Earnings
$1,444
Median Rent
$306,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Live-work space - Four condo units in Downtown Hollywood with ocean views.
Where is this live-work space located?
The property is located at 1720 Harrison St 17E-F Hollywood, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Prime Downtown Hollywood location on Young Circle with ocean views.; Four condo units totaling 2,710 SF, offering flexibility for owner‑users or investors.; Vacant units #17E‑F can be converted to a live/work space or apartment.
