Two-Bay
For Sale
$430,000
Pending
5720 Plunkett St, Hollywood, FL 33023
IM-2-zoned warehouse with two separately metered bays and warehousing land use.
Property Size2,450 SF
Days on Market2555
Property Features for 5720 Plunkett St
General Information
Standard status
Pending
Size
2,450 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$5,712
Amenities
3
50
Building Details
Year Built
1978
Listing Agency:
(754) 900-7621
Listed By:
Canvas Real Estate
(754) 900-7621
Source:
Xome
Added: Sep 4, 2019
Changed: Aug 30
Last Checked: Aug 30 at 12:00PM
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 Canvas Real Estate
Investment Insights
Based on property information with market context.
This 2,450-square-foot warehouse contains two bays, with separate meters serving each bay. The building was constructed in 1978 and occupies a 5,092-square-foot lot, providing a compact configuration for warehouse operations.
The property is zoned IM-2, with land use supporting warehousing, distribution, trucking terminals, and van and storage warehousing. Access to US 441, the Florida Turnpike, and I-95 connects the site with major regional transportation routes. The address is 5720 Plunkett St, Hollywood, FL 33023.
The property is zoned IM-2, with land use supporting warehousing, distribution, trucking terminals, and van and storage warehousing. Access to US 441, the Florida Turnpike, and I-95 connects the site with major regional transportation routes. The address is 5720 Plunkett St, Hollywood, FL 33023.
Key Highlights
- 2,450 square feet of leasable warehouse area
- Two bays, each with its own meter
- 5,092‑square‑foot lot
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
$26,389
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
6.14%
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%
$527,780
$527.8K
Cap Rate 7%
$376,986
$377.0K
Cap Rate 9%
$293,211
$293.2K
Market Conditions
NOI Build-Up for 2,450 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
$32.3K $13.20/SF
− Vacancy
−$1.3K −$0.53/SF
EGI
$31.0K $12.67/SF
− OpEx
−$4.7K −$1.90/SF
NOI
$26.4K $10.77/SF
Area
Hollywood, FL
Vacancy
4.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
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%
$527,780
Cap Rate 7%
$376,986
Cap Rate 9%
$293,211
Alternative Uses
Best Use
Warehouse
$377.0K
$329.9K – $439.8K
NOI $26,389 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$958.4K
$838.6K – $1.12M
NOI $67,091 @ 7.0% cap · market cap 15.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,845
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33023, FL
66,749
Population
22,450
Households
3
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
8.8 sq mi
ZIP Area
7,585
Density / Sq Mi
$70,003
Median Household Income
$35,093
Median Earnings
$1,621
Median Rent
$344,500
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?
Warehouse - IM-2-zoned warehouse with two separately metered bays and warehousing land use.
Where is this warehouse located?
The property is located at 5720 Plunkett St Hollywood, FL.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 2,450 square feet of leasable warehouse area; Two bays, each with its own meter; 5,092‑square‑foot lot
