Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    116 N 61St Ave Hollywood, FL 33024

    • Manufacturing properties
    • 3,897 SF
    • 0.30 lot acres
    For Sale
    View listing
    $3,500,000
    Value Estimations
    Cap Rate Potential
    9.2%
    Manufacturing properties
    Location Intelligence
    Property ID
    US18-0471232
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • USA Impact Glass / Contractor
    • Sanctuary Windows and Doors Hollywood / Door Shop / Door Supplier
    • Rhw Inc / Wallpaper Store

    Property Details for 116 N 61St Ave

    Year built
    1979
    Construction
    CONCRETE
    Lot size
    0.30 lot acres
    Property size
    3,897 SF
    Zone code
    S-MU
    Property type
    Manufacturing properties
    APN
    51-41-13-06-0541
    APU
    514113060541

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $625,000
      6.5%
      $575,000
      7%
      $535,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $385,000
      Market price range: $190k - $904k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hollywood
    County
    Broward
    State
    Florida
    Longitude
    -80.2105
    Latitude
    26.0109
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,837
    $103,210
    $248,660
    $351,870
    -
    $103,210
    $248,660
    $351,870

    Comparable in this City

    • Value Estimation
      $165,000
      1,500 SF

      6230 Johnson St

      MANUFACTURING (LIGHT) • 1,500 SF
      6230 Johnson St, Hollywood, FL 33024-5932
      View Details
    • Value Estimation
      $350,000
      2,535 SF

      6014 Hayes St

      MANUFACTURING (LIGHT) • 2,535 SF
      6014 Hayes St, Hollywood, FL 33024-6024
      View Details
    • Value Estimation
      $1,120,000
      100,740 SF

      9881 Sheridan St

      MINI-WAREHOUSE, STORAGE • 100,740 SF
      9881 Sheridan St, Hollywood, FL 33024-3003
      View Details
    • Value Estimation
      $2,685,000
      396 SF

      710 62nd Ave

      BULK STORAGE, TANKS • 396 SF
      710 62nd Ave, Hollywood, FL 33024-7855
      View Details
    • Value Estimation
      $365,000
      1,775 SF

      524 60th Ter

      WAREHOUSE, STORAGE • 1,775 SF
      524 60th Ter, Hollywood, FL 33024-7971
      View Details
    • Value Estimation
      $2,050,000
      3,663 SF

      6205 Buchanan St

      WAREHOUSE, STORAGE • 3,663 SF
      6205 Buchanan St, Hollywood, FL 33024-7803
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5.00 Acres

      Hollywood 5-Acre Mixed-Use Property

      Prime Hollywood location, vacant land, huge potential.
      315 62Nd Ave, Hollywood, FL 33024
      View Details
    • $5,500,000

      Warehouse on Stirling Road

      19,745 SF warehouse on 2 acres near Hardrock Casino.
      6950 Stirling Rd, Davie, FL 33024
      View Details
    • $5,500,000
      19,736 SF

      Davie Industrial Warehouse - Huge Potential

      1.82 Acres, 19,736 SF, B-2 Zoning
      6950 Stirling Rd, Davie, FL 33024
      View Details
    • Contact for pricing
      199,731 SF

      Westport Business Park Investment Opportunity

      Fully leased industrial park near major highways in Broward County.
      2525 Davie Road Ext, Davie, FL 33024
      View Details
    • $43,000,000
      200 SF

      Hollywood Blvd Medical Office Building

      Class A Medical Office, High Occupancy, Great Location
      6100 Hollywood Blvd, Hollywood, FL 33024
      View Details
    • $650,000

      Prime Pembroke Pines Retail Center

      Gas Station & Convenience Store - High Traffic
      1700 University Dr, Pembroke Pines, FL 33024
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      6,600 SF

      Warehouse Space Available For Sublease

      6,600 SF warehouse space available now through June 2024.
      15951 SW 41St St, Davie, FL 33024
      View Details
    • $25 SF/Yr
      64,436 SF

      Hollywood Medical Office Park

      Prime Medical Suites Available in South Florida
      9900 Stirling Rd, Hollywood, FL 33024
      View Details
    • $40 SF/Yr
      6,972 SF

      Hollywood Blvd Office Space

      Prime Hollywood Office Suites, Flexible Sizes
      6100 Hollywood Blvd, Hollywood, FL 33024
      View Details
    • Contact for pricing
      825 SF

      Restaurant and Retail Space Available

      Restaurant and retail spaces for lease in Davie, Florida.
      2215-2279 S University Dr, Davie, FL 33024
      View Details
    • $2,800 /Mo

      Hollywood Duplex with Open Layout

      Spacious 3 bed, 2 bath Hollywood duplex for rent.
      6036 Buchanan St, Hollywood, FL 33024
      View Details
    • $3,000 /Mo

      Hollywood, FL Duplex For Rent

      Three-bedroom, two-bath duplex with updated features and large backyard.
      6283 Sherman St, Hollywood, FL 33024
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    116 N 61St Ave
    Hollywood, FL 33024
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.