Two-Level Restaurant
For Sale
$750,000
Pending
1824 Harrison St, Hollywood, FL 33020
Existing restaurant setup includes retained equipment and an upper level with storage, rooms, and bathrooms.
Property Size2,500 SF
Days on Market3845
Property Features for 1824 Harrison St
General Information
Standard status
Pending
Size
2,500 SF
Property subtype
General Commercial
Additional Details
Floor
1
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$8,349
Amenities
3
Building Details
Year Built
1955
Listing Agency:
(786) 325-2596
Listed By:
Luxe Properties
(786) 325-2596
Source:
Xome
Added: Feb 19, 2016
Changed: Aug 29
Last Checked: Aug 29 at 7:03PM
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 Luxe Properties
Investment Insights
Based on property information with market context.
This two-level property at 1824 Harrison St includes an approximately 2500sf first floor currently configured for restaurant use. The upper floor contains approximately 1200sf, arranged with 2 rooms and 2 bathrooms; it is currently used for storage and was previously occupied by a gift shop. Existing equipment is included with the property.
The property is in Downtown Hollywood next to Young Circle. The source information also places it less than a few miles from the beach, I-95, Sunny Isles, and Aventura Mall. Constructed in 1955, the building combines an operating restaurant layout on the first floor with additional upper-level space.
The property is in Downtown Hollywood next to Young Circle. The source information also places it less than a few miles from the beach, I-95, Sunny Isles, and Aventura Mall. Constructed in 1955, the building combines an operating restaurant layout on the first floor with additional upper-level space.
Key Highlights
- Approximately 2500sf first floor currently used as a restaurant
- Approximately 1200sf second floor with 2 rooms and 2 bathrooms
- Current equipment stays with the property
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
$39,758
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
5.30%
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%
$795,160
$795.2K
Cap Rate 7%
$567,971
$568.0K
Cap Rate 9%
$441,756
$441.8K
Market Conditions
NOI Build-Up for 2,500 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
$57.0K $22.80/SF
− Vacancy
−$4.0K −$1.60/SF
EGI
$53.0K $21.20/SF
− OpEx
−$13.3K −$5.30/SF
NOI
$39.8K $15.90/SF
Area
Hollywood, FL
Vacancy
7.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$795,160
Cap Rate 7%
$567,971
Cap Rate 9%
$441,756
Alternative Uses
Best Use
Specialty Retail
$568.0K
$497.0K – $662.6K
NOI $39,758 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$978.0K
$855.8K – $1.14M
NOI $68,460 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,515
Businesses Nearby
Under-served
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing restaurant setup includes retained equipment and an upper level with storage, rooms, and bathrooms.
Where is this conventional restaurant located?
The property is located at 1824 Harrison St Hollywood, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Approximately 2500sf first floor currently used as a restaurant; Approximately 1200sf second floor with 2 rooms and 2 bathrooms; Current equipment stays with the property
