69-Unit Hotel
For Sale
Contact for pricing
509 N Federal Highway, Hollywood, FL 33020
Two-story concrete construction includes guest rooms, apartments, a courtyard pool, and on-site parking.
Property Size35,598 SF
Lot Size1.44 Acres
Price / SF$407.33
Days on Market21
Property Features for 509 N Federal Highway
General Information
Standard status
Active
Size
35,598 SF
Class
B
Lot size
1.44 Acres
Property subtype
Multifamily, Hospitality
Zoning
FH-2
Investment Type
Value Add
Net Operating Income
$1,219,173
Additional Details
Road Access
Yes
Multifamily Units
9
Amenities
courtyard
pool
tile patio/sundeck
ample on-site parking
Building Details
Year Built
1962
Year Renovated
1980
Buildings
3
Stories
2
Units
69
Listing Agency:
Horvath & Tremblay
Listed By:
David Cohen · License #SL3282943
Source:
Crexi
Added: Aug 13
Changed: Aug 31
Last Checked: Sep 1 at 6:34PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This hospitality property includes 69 units across a two-story reinforced concrete block main building and two adjoining multifamily buildings. The unit mix comprises 60 traditional hotel rooms and nine residential apartments, all held under single ownership. Improvements occupy 1.44 acres and include an enclosed landscaped courtyard with a pool, tile patio and sundeck, plus on-site parking. The property was built in 1962 and carries FH-2 zoning.
Located at 509 N Federal Highway and 1711 Fillmore Street in Downtown Hollywood, the asset is within walking distance of ArtsPark at Young Circle and directly across from Hollywood Beach Golf Club. The surrounding area also includes the Seminole Hard Rock Hotel, Fort Lauderdale-Hollywood International Airport, Port Everglades, and the Hollywood Beach Boardwalk.
Located at 509 N Federal Highway and 1711 Fillmore Street in Downtown Hollywood, the asset is within walking distance of ArtsPark at Young Circle and directly across from Hollywood Beach Golf Club. The surrounding area also includes the Seminole Hard Rock Hotel, Fort Lauderdale-Hollywood International Airport, Port Everglades, and the Hollywood Beach Boardwalk.
Key Highlights
- 69‑unit hospitality property with 60 hotel rooms and nine residential apartments
- 1.44‑acre property at 509 N Federal Highway and 1711 Fillmore Street
- Two‑story reinforced concrete block main building plus two adjacent multifamily buildings
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
$593,346
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
4.09%
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%
$11,866,920
$11.9M
Cap Rate 7%
$8,476,371
$8.5M
Cap Rate 9%
$6,592,733
$6.6M
Market Conditions
NOI Build-Up for 35,598 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
$1.13M $31.80/SF
− Vacancy
−$53.2K −$1.49/SF
EGI
$1.08M $30.31/SF
− OpEx
−$485.5K −$13.64/SF
NOI
$593.3K $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%
$11,866,920
Cap Rate 7%
$8,476,371
Cap Rate 9%
$6,592,733
Alternative Uses
Best Use
Apartment 5plus
$8.48M
$7.42M – $9.89M
NOI $593,346 @ 7.0% cap · market cap 4.09%
Second Best
Hotel Hospitality
$3.83M
$3.35M – $4.46M
NOI $267,839 @ 7.0% cap · market cap 1.85%
Theoretical Best
Office A
$13.93M
$12.19M – $16.25M
NOI $974,816 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,269
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
Market
Vacancy Rate% for Multifamily 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?
Hotel - Two-story concrete construction includes guest rooms, apartments, a courtyard pool, and on-site parking.
Where is this hotel located?
The property is located at 509 N Federal Highway Hollywood, FL.
What is the asking price?
The asking price for this property is $14,500,000.
What are key features of this property?
This property features: 69‑unit hospitality property with 60 hotel rooms and nine residential apartments; 1.44‑acre property at 509 N Federal Highway and 1711 Fillmore Street; Two‑story reinforced concrete block main building plus two adjacent multifamily buildings
