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 Market181
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 #3574869
(954) 743-7594
Source:
Mymiahomes
Added: Apr 24
Changed: Oct 12
Last Checked: Oct 7 at 3:27PM
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
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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 / Yr
$240,519
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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.
