Hollywood Boulevard Retail
For Sale
Contact for pricing
6140 Hollywood Blvd, Hollywood, FL 33024
Retail property with value-add potential in a high-traffic location.
Property Size6,400 SF
Price / SF$312.50
Days on Market149
Property Features for 6140 Hollywood Blvd
General Information
Standard status
Active
Size
6,400 SF
Property subtype
Retail
Zoning
S-MU
Occupancy
75%
Investment Type
Value Add
Net Operating Income
$50,395
Building Details
Year Built
1970
Units
3
Tenancy
Multi
Listing Agency:
Marcus & Millichap
(786) 522-7089
Listed By:
Matthew Albregts · License #FL: SL3426196
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Aug 13 at 5:24AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
The property at 6140–6144 Hollywood Boulevard in Hollywood, Florida, is a retail property with approximately 6,400 square feet of space, offering value-add potential. The building features three retail bays ranging from approximately 1,600 to 3,200 square feet, including one contiguous 3,200 square foot unit that can be subdivided. The current tenants occupy spaces under month-to-month and short-term leases at below-market rents, averaging $19-20 per square foot gross. An investor has the opportunity to increase income by adjusting rents toward market levels of $25–$30 per square foot net. Constructed with a Twin-T concrete roof replaced in 2011, the property is separately metered with three electric meters and two water meters. The layout is suited for local service and retail tenants, providing leasing and re-tenanting flexibility. Located along Hollywood Boulevard with approximately 51,000 vehicles per day, the property has visibility and accessibility, enhanced by two pylon signs. Zoned S-MU (South Mixed Use District) within the Transit Oriented Corridor, the site allows for development of up to 50 dwelling units with a maximum height of 175 feet. A bus stop is located directly in front of the property. The property is located just off Florida Turnpike (SR 91) Northbound at Exit 49, providing access to Hollywood Boulevard /Pines Boulevard, with routes to Orlando and Miami. It is located 0.23 miles from a future Memorial Regional Hospital $670 million Expansion, 3.3 miles from Seminole Hard Rock Hotel & Casino, 4.3 miles from the shops and restaurants of Downtown Hollywood Boulevard, and 4.9 miles from Hard Rock Stadium.
Key Highlights
- Value‑add potential: Increase income to market levels with current below‑market rents.
- High‑traffic location on Hollywood Boulevard with approximately 51,000 vehicles per day. Two pylon signs provide outstanding visibility.
- Development potential: Zoned S‑MU (South Mixed Use District) allowing for development of up to 50 dwelling units with a maximum height of 175 feet.
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
$89,027
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
4.45%
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%
$1,780,540
$1.8M
Cap Rate 7%
$1,271,814
$1.3M
Cap Rate 9%
$989,189
$989.2K
Market Conditions
NOI Build-Up for 6,400 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
$138.2K $21.60/SF
− Vacancy
−$11.1K −$1.73/SF
EGI
$127.2K $19.87/SF
− OpEx
−$38.2K −$5.96/SF
NOI
$89.0K $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%
$1,780,540
Cap Rate 7%
$1,271,814
Cap Rate 9%
$989,189
Alternative Uses
Best Use
Retail
$1.27M
$1.11M – $1.48M
NOI $89,027 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $175,258 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,761
Businesses Nearby
Explore this area
Business Placement
Demographics for 33024, FL
74,843
Population
26,552
Households
2.8
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
11.6 sq mi
ZIP Area
6,452
Density / Sq Mi
$76,501
Median Household Income
$38,144
Median Earnings
$1,724
Median Rent
$365,200
Median Home Value
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?
Retail space - Retail property with value-add potential in a high-traffic location.
Where is this retail space located?
The property is located at 6140 Hollywood Blvd Hollywood, FL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Value‑add potential: Increase income to market levels with current below‑market rents.; High‑traffic location on Hollywood Boulevard with approximately 51,000 vehicles per day. Two pylon signs provide outstanding visibility.; Development potential: Zoned S‑MU (South Mixed Use District) allowing for development of up to 50 dwelling units with a maximum height of 175 feet.
