Development Opportunity: Three Adjacent
For Sale
$1,000,000
2125 Polk St, Hollywood, FL 33020
Three adjacent lots zoned for high-density multi-use development.
Property Size2,158 SF
Lot Size0.40 Acres
Days on Market190
Property Features for 2125 Polk St
General Information
Standard status
Active
Size
2,158 SF
Lot size
0.40 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$11,322
Building Details
Building Size
2,158 SF
Year Built
1954
Units
4
Listing Agency:
LPT Realty
Listed By:
Tina N Levinger · License #3022815
(954) 675-1845
Source:
Elliman
Added: Mar 11
Changed: Sep 15
Last Checked: Sep 15 at 9:19AM
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 LPT Realty
Investment Insights
Based on property information with market context.
This offering presents a significant opportunity for investors and developers, featuring three adjacent lots with separate folio numbers, being sold together. Located on Polk Street, the properties at 2117, 2125, and 2127 Polk St are zoned DH-3, allowing for both residential and commercial uses. The zoning designation supports high-density multi-use development. Each lot measures 5754 square feet, combining to create a 17,262 square foot parcel. The zoning capacity allows for a 40-unit concept, with potential for more units if the project goes vertical. The zoning permits buildings up to 140 feet, potentially allowing for 10 stories. Permitted additional uses include a self-storage facility, hotel, amusement, and automotive sales. The properties are currently occupied by tenants.
Key Highlights
- HUGE INVESTOR/DEVELOPER OPPORTUNITY: Three adjacent lots (17,262 Sq Ft total) being sold together.
- DH‑3 Zoning: High Density Multi Use, Residential/Commercial.
- Zoning Capacity: Concept for 40 units possible.
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
$35,969
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
3.60%
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%
$719,380
$719.4K
Cap Rate 7%
$513,843
$513.8K
Cap Rate 9%
$399,656
$399.7K
Market Conditions
NOI Build-Up for 2,158 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
$68.6K $31.80/SF
− Vacancy
−$3.2K −$1.49/SF
EGI
$65.4K $30.31/SF
− OpEx
−$29.4K −$13.64/SF
NOI
$36.0K $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%
$719,380
Cap Rate 7%
$513,843
Cap Rate 9%
$399,656
Alternative Uses
Best Use
Apartment 5plus
$513.8K
$449.6K – $599.5K
NOI $35,969 @ 7.0% cap · market cap 3.60%
Second Best
Self Storage
$316.4K
$276.9K – $369.2K
NOI $22,151 @ 7.0% cap · market cap 2.22%
Theoretical Best
Office A
$844.2K
$738.7K – $984.9K
NOI $59,095 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,651
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Commercial land - Three adjacent lots zoned for high-density multi-use development.
Where is this commercial land located?
The property is located at 2125 Polk St Hollywood, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: HUGE INVESTOR/DEVELOPER OPPORTUNITY: Three adjacent lots (17,262 Sq Ft total) being sold together.; DH‑3 Zoning: High Density Multi Use, Residential/Commercial.; Zoning Capacity: Concept for 40 units possible.
