Development Opportunity: Three Adjacent
2127 Polk St, Hollywood, FL 33020
For Sale
$900,000
Three adjacent lots zoned for high-density multi-use development.
Property Size2,158 SF
Lot Size0.40 Acres
Days on Market247
Property Features for 2127 Polk St
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
LPT Realty
Listed By:
Tina N Levinger · License FL #3022815
(954) 675-1845
Source:
Elliman
Added: Mar 11
Changed: Nov 12
Last Checked: Nov 12 at 8:02AM
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
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Investment Insights
Based on property information with market context.
An investor/developer opportunity featuring three adjacent lots with separate folio numbers, being sold together. The lots, located side by side on Polk St, are zoned DH-3 for High Density Multi Use. Each lot measures 5754 square feet, combining for a total of 17,262 square feet. The zoning allows for a 40-unit concept, with the potential for more units if the project goes vertical. Zoning permits construction up to 140 feet, potentially allowing for a 10-story building. Additional permitted uses include a self-storage facility, hotel, amusement center, and automotive sales. The properties are located at 2117, 2125, and 2127 Polk St.
Key Highlights
- Large 17,262 Sq Ft combined lot size.
- Zoned DH‑3 High Density Multi Use allowing for a 40‑unit concept.
- Potential for more units by building vertically up to 140ft (10 stories).**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,969
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
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
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 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 4.00%
Second Best
Self Storage
$316.4K
$276.9K – $369.2K
NOI $22,151 @ 7.0% cap · market cap 2.46%
Theoretical Best
Office A
$844.2K
$738.7K – $984.9K
NOI $59,095 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,651
Businesses Nearby
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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
Properties on Market for Commercial land in Hollywood
Vacancy Rate% for Industrial in South region
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 2127 Polk St Hollywood, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Large 17,262 Sq Ft combined lot size.; Zoned DH‑3 High Density Multi Use allowing for a 40‑unit concept.; Potential for more units by building vertically up to 140ft (10 stories).**
