Fully Occupied Five-Bay Flex
For Sale
$3,750,000
601 N 21st Ave, Hollywood, FL 33020
The property contains five occupied bays within a flex and retail building.
Property Size12,150 SF
Lot Size0.38 Acres
Price / SF$308.64
Days on Market144
Property Features for 601 N 21st Ave
General Information
Standard status
Active
Size
12,150 SF
Lot size
0.38 Acres
Occupancy
100%
Additional Details
Gross Income
$198,000
Building Details
Year Built
1957
Building Size
12,150 SF
Tenancy
Multi
Listing Agency:
APEX Capital Realty LLC
Listed By:
Jason Joseph Abitbol · License #3233274
Source:
Thepennteam
Added: Apr 11
Changed: Aug 29
Last Checked: Aug 30 at 8:51PM
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 APEX Capital Realty LLC
Investment Insights
Based on property information with market context.
This fully occupied commercial property is configured as a flex and retail building with five bays. The improvements comprise approximately 12,150 square feet, providing a multi-bay layout suited to a range of commercial operations.
The property occupies an approximately 16,710-square-foot lot at 601 S 21st Ave in Hollywood, Florida. Its existing occupancy and combination of flex and retail space provide a clearly defined commercial configuration for review.
The property occupies an approximately 16,710-square-foot lot at 601 S 21st Ave in Hollywood, Florida. Its existing occupancy and combination of flex and retail space provide a clearly defined commercial configuration for review.
Key Highlights
- Five‑bay flex and retail building
- Fully occupied property
- Approximately 12,150 SF of building area
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
$169,011
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
4.51%
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%
$3,380,220
$3.4M
Cap Rate 7%
$2,414,443
$2.4M
Cap Rate 9%
$1,877,900
$1.9M
Market Conditions
NOI Build-Up for 12,150 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
$262.4K $21.60/SF
− Vacancy
−$21.0K −$1.73/SF
EGI
$241.4K $19.87/SF
− OpEx
−$72.4K −$5.96/SF
NOI
$169.0K $13.91/SF
Area
Hollywood, FL
Vacancy
8.00%
Lease Rate
$21.60 /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%
$3,380,220
Cap Rate 7%
$2,414,443
Cap Rate 9%
$1,877,900
Alternative Uses
Best Use
Retail
$2.41M
$2.11M – $2.82M
NOI $169,011 @ 7.0% cap · market cap 4.51%
Second Best
Flex RnD
$1.97M
$1.72M – $2.30M
NOI $137,985 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$4.75M
$4.16M – $5.55M
NOI $332,716 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,158
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - The property contains five occupied bays within a flex and retail building.
Where is this flex space located?
The property is located at 601 N 21st Ave Hollywood, FL.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Five‑bay flex and retail building; Fully occupied property; Approximately 12,150 SF of building area
