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    2621-2631 Polk St Hollywood, FL 33020

    For Sale
    $3,500,000

    72-Unit Potential, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    367
    This exceptional redevelopment opportunity encompasses a substantial 41,026 square foot assemblage located at 2621-2631 Polk Street in Hollywood, Florida, 33020. Situated adjacent to the renowned City Hall Circle, this prime parcel presents a unique chance to develop a thriving 72-unit multifamily complex. Current plans envision a dynamic mix of 60 one-bedroom and 12 two-bedroom units, thoughtfully designed around a spacious, open green area maximizing natural light and providing ample recreational space for residents. The development incorporates convenient on-site parking for residents and guests. This rapidly expanding area of Hollywood offers significant appeal to both residents and businesses, making this a highly attractive investment prospect. The asking price for this exceptional land parcel is $3,500,000. This is a rare opportunity to capitalize on the burgeoning growth and high demand for residential housing in this desirable location. The property's strategic location and well-conceived development plans promise strong returns for the discerning investor. Don't miss this chance to acquire a premier development site in one of Hollywood's most sought-after neighborhoods.

    Property Features for 2621-2631 Polk St

    General Information

    Property type
    Multifamily properties

    HighLights

    • $3,500,000 asking price.
    • 41,026 sq ft lot, Broward County, FL.
    • Multifamily redevelopment opportunity.
    • 72‑unit development planned (60 one‑bedroom, 12 two‑bedroom units).
    • Located near Hollywood City Hall Circle.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hollywood
    County
    Broward
    State
    Florida
    Longitude
    -80.160035467512
    Latitude
    26.012338596946

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    FAQs

    What type of property is this?
    Multifamily property - 72-Unit Potential, Prime Location
    Where is this multifamily property located?
    The property is located at 2621-2631 Polk St Hollywood, FL.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: $3,500,000 asking price.; 41,026 sq ft lot, Broward County, FL.; Multifamily redevelopment opportunity.
    (305) 490-1404
    Request Owner's contact information
    2621-2631 Polk St Hollywood, FL 33020
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    Hollywood, FL 33020
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2621-2631 Polk St Hollywood, FL 33020
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