Renovated Income-Producing Beachfront
For Sale
$4,200,000
335 Georgia Street, Hollywood, FL 33019
Twelve renovated units on Hollywood Beach Broadwalk, ready for short-term rentals.
Property Size9,558 SF
Price / SF$439.42
Days on Market139
Property Features for 335 Georgia Street
General Information
Standard status
Active
Size
9,558 SF
Property subtype
Commercial
Lease Term
['Month To Month']
Building Details
Year Built
1971
Listing Agency:
Sunst Real Estate LLC
Listed By:
Oleg Sergiienko · License #3420278
(786) 252-3325
Source:
Onesothebysrealty
Added: May 16
Changed: Sep 29
Last Checked: Oct 1 at 11:31AM
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 Sunst Real Estate LLC
Investment Insights
Based on property information with market context.
This gated compound features twelve income-producing units, situated just steps from the Atlantic Ocean on Hollywood Beach Broadwalk. Each unit includes a full kitchen, split-AC system, and impact windows. The property has a secured tropical courtyard with a BBQ area, on-site laundry facilities, and twelve private parking spaces. Recent renovations include a new Spanish tile roof and updated plumbing and electrical systems throughout. All leases are currently month-to-month, offering the potential for immediate conversion to short-term rentals. The location is near Margaritaville, with Related Group's 39-story luxury tower under construction on the same Broadwalk, and the City's planned Broadwalk extension starting at Georgia Street. The property is located within a Live Local corridor. The property is zoned BRT-25-R and benefits from a grandfathered 12-unit density. The bike score is 57, indicating it is bikeable, the walk score is 46, indicating it is car-dependent, and the transit score is 32, indicating some transit options are available.
Key Highlights
- 12 income‑producing units with month‑to‑month leases, allowing immediate transition to short‑term rentals.
- Directly on Hollywood Beach Broadwalk, steps from the Atlantic Ocean.**
- Fully renovated, gated compound with new Spanish tile roof, updated plumbing and electrical.**
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
$159,312
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
3.79%
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%
$3,186,240
$3.2M
Cap Rate 7%
$2,275,886
$2.3M
Cap Rate 9%
$1,770,133
$1.8M
Market Conditions
NOI Build-Up for 9,558 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
$303.9K $31.80/SF
− Vacancy
−$14.3K −$1.49/SF
EGI
$289.7K $30.31/SF
− OpEx
−$130.3K −$13.64/SF
NOI
$159.3K $16.67/SF
Area
Hollywood, FL
Vacancy
4.70%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$3,186,240
Cap Rate 7%
$2,275,886
Cap Rate 9%
$1,770,133
Alternative Uses
Best Use
Apartment 5plus
$2.28M
$1.99M – $2.66M
NOI $159,312 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.74M
$3.27M – $4.36M
NOI $261,736 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 33019, FL
15,497
Population
12,453
Households
1.2
Avg Household Size
55
Median Age
60%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
4,188
Density / Sq Mi
$94,824
Median Household Income
$59,226
Median Earnings
$1,983
Median Rent
$631,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Twelve renovated units on Hollywood Beach Broadwalk, ready for short-term rentals.
Where is this apartment building located?
The property is located at 335 Georgia Street Hollywood, FL.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 12 income‑producing units with month‑to‑month leases, allowing immediate transition to short‑term rentals.; Directly on Hollywood Beach Broadwalk, steps from the Atlantic Ocean.**; Fully renovated, gated compound with new Spanish tile roof, updated plumbing and electrical.**
