Mixed-Use Property in
For Sale
$4,250,000
1610 N Dixie Hwy 1-48, Hollywood, FL 33020
48-unit mixed-use property with redevelopment potential in Hollywood, Florida.
Property Size14,430 SF
Lot Size0.63 Acres
Price / SF$294.53
Days on Market135
Property Features for 1610 N Dixie Hwy 1-48
General Information
Standard status
Active
Size
14,430 SF
Lot size
0.63 Acres
Building Details
Year Built
1970
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Elior Levi · License #A12054087
(954) 743-7594
Source:
Mymiahomes
Added: Apr 24
Changed: Aug 25
Last Checked: Sep 4 at 8:57AM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This 48-unit mixed-use property is located at 1610 N Dixie Hwy in Hollywood. The property includes apartments, office spaces, a retail store, and a storage unit. Situated on a 27,393 square foot lot, the property is zoned DH-3, allowing for potential redevelopment of approximately 90 residential units or alternative uses such as a warehouse. The unit mix consists of 41 studio apartments, 2 one-bedroom/one-bath units, 3 office spaces, 1 retail store, and 1 storage unit. Currently, only 13 units are occupied, with the majority vacant and requiring full rehabilitation. This presents a significant opportunity for investors to reposition or redevelop the property. The property is being sold with existing liens/violations. The location is near I-95, Fort Lauderdale-Hollywood International Airport, Downtown Hollywood, Young Circle, and the beaches. The bike score is 73, indicating it is very bikeable. The walk score is 90, indicating it is very walkable. The transit score is 45, indicating some transit options are available.
Key Highlights
- Significant value‑add opportunity with only 13 units occupied, allowing for full rehab and increased rental income.
- DH‑3 zoning allows for redevelopment potential, including approximately 90 residential units.
- Prime location minutes from I‑95, Fort Lauderdale‑Hollywood International Airport, Downtown Hollywood, Young Circle, and beaches.
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
$240,519
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
5.66%
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%
$4,810,380
$4.8M
Cap Rate 7%
$3,435,986
$3.4M
Cap Rate 9%
$2,672,433
$2.7M
Market Conditions
NOI Build-Up for 14,430 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
$458.9K $31.80/SF
− Vacancy
−$21.6K −$1.49/SF
EGI
$437.3K $30.31/SF
− OpEx
−$196.8K −$13.64/SF
NOI
$240.5K $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%
$4,810,380
Cap Rate 7%
$3,435,986
Cap Rate 9%
$2,672,433
Alternative Uses
Best Use
Apartment 5plus
$3.44M
$3.01M – $4.01M
NOI $240,519 @ 7.0% cap · market cap 5.66%
Second Best
Mixed Use
$2.78M
$2.44M – $3.25M
NOI $194,805 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$5.65M
$4.94M – $6.59M
NOI $395,151 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,617
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?
Mixed-use property - 48-unit mixed-use property with redevelopment potential in Hollywood, Florida.
Where is this mixed-use property located?
The property is located at 1610 N Dixie Hwy 1-48 Hollywood, FL.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Significant value‑add opportunity with only 13 units occupied, allowing for full rehab and increased rental income.; DH‑3 zoning allows for redevelopment potential, including approximately 90 residential units.; Prime location minutes from I‑95, Fort Lauderdale‑Hollywood International Airport, Downtown Hollywood, Young Circle, and beaches.
