Turnkey Updated
For Sale
$645,000
2204 Mckinley Street, Hollywood, FL 33020
Three fully updated units, with two tenant-occupied and one vacant and move-in ready.
Property Size3,062 SF
Price / SF$210.65
Days on Market123
Property Features for 2204 Mckinley Street
General Information
Standard status
Active
Size
3,062 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
DH-1
Taxes and HOA fees
Annual Taxes
$9,270
Building Details
Building Size
3,062 SF
Year Built
1946
Stories
1
Listing Agency:
The Keyes Company
Listed By:
Karim Samy · License #3581556
(407) 405-2969
Source:
Laerrealty
Added: May 8
Changed: Sep 2
Last Checked: Sep 6 at 4:13AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This turnkey triplex at 2204 Mckinley St, Hollywood, FL 33020, offers three fully updated residential units. Two units are currently tenant-occupied, and the third unit is vacant and move-in ready, providing an owner with flexibility to occupy one unit while the others remain in place.
The property includes a large lot with outdoor space and storage, supporting everyday use beyond the interior living areas. Located minutes from the beach, dining, and major highways, the home is positioned for convenient access to surrounding amenities and transportation routes.
The property includes a large lot with outdoor space and storage, supporting everyday use beyond the interior living areas. Located minutes from the beach, dining, and major highways, the home is positioned for convenient access to surrounding amenities and transportation routes.
Key Highlights
- Turnkey triplex updated throughout; three fully updated units with modern finishes
- Two units are currently tenant‑occupied and one unit is vacant and move‑in ready
- Year built: 1946
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
$54,862
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
8.51%
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%
$1,097,240
$1.1M
Cap Rate 7%
$783,743
$783.7K
Cap Rate 9%
$609,578
$609.6K
Market Conditions
NOI Build-Up for 3,062 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
$82.7K $27.00/SF
− Vacancy
−$4.3K −$1.40/SF
EGI
$78.4K $25.60/SF
− OpEx
−$23.5K −$7.68/SF
NOI
$54.9K $17.92/SF
Area
Hollywood, FL
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,097,240
Cap Rate 7%
$783,743
Cap Rate 9%
$609,578
Alternative Uses
Best Use
Multifamily LT 5
$783.7K
$685.8K – $914.4K
NOI $54,862 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$729.1K
$638.0K – $850.6K
NOI $51,037 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,850 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,439
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three fully updated units, with two tenant-occupied and one vacant and move-in ready.
Where is this triplex located?
The property is located at 2204 Mckinley Street Hollywood, FL.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Turnkey triplex updated throughout; three fully updated units with modern finishes; Two units are currently tenant‑occupied and one unit is vacant and move‑in ready; Year built: 1946
