Retail Center Near Sheridan
For Sale
Contact for pricing
2300 N 23rd Ave, Hollywood, FL
Multi-tenant retail building near Sheridan St and Dixie Hwy.
Property Size5,082 SF
Lot Size0.29 Acres
Price / SF$334.51
Days on Market337
Property Features for 2300 N 23rd Ave
General Information
Standard status
Active
Size
5,082 SF
Lot size
0.29 Acres
Property subtype
RETAIL
Listing Agency:
Fausto Commercial Realty
(954) 743-7594
Listed By:
Elior Levi · License #A11927941
(954) 743-7594
Source:
Moodyscre
Added: Sep 29, 2025
Changed: Aug 8
Last Checked: Aug 30 at 5:24PM
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
Investment Insights
Based on property information with market context.
This 5,082 square foot multi-tenant retail building is divided into four units. Three of the units are approximately 850 square feet each, and one unit is 2,532 square feet. The property is a neighborhood retail/strip center located off Sheridan Street and Dixie Highway, minutes from I-95.
Key Highlights
- Rare neighborhood retail/strip center opportunity.
- Located off Sheridan St and Dixie Hwy.
- Minutes from I‑95.
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
$70,693
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
4.16%
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%
$1,413,860
$1.4M
Cap Rate 7%
$1,009,900
$1.0M
Cap Rate 9%
$785,478
$785.5K
Market Conditions
NOI Build-Up for 5,082 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
$109.8K $21.60/SF
− Vacancy
−$8.8K −$1.73/SF
EGI
$101.0K $19.87/SF
− OpEx
−$30.3K −$5.96/SF
NOI
$70.7K $13.91/SF
Area
Hollywood, FL
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,413,860
Cap Rate 7%
$1,009,900
Cap Rate 9%
$785,478
Alternative Uses
Best Use
Retail
$1.01M
$883.7K – $1.18M
NOI $70,693 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,165 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,319
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Multi-tenant retail building near Sheridan St and Dixie Hwy.
Where is this strip mall located?
The property is located at 2300 N 23rd Ave Hollywood, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Rare neighborhood retail/strip center opportunity.; Located off Sheridan St and Dixie Hwy.; Minutes from I‑95.
