1946 Pierce St Hollywood, FL 33020
- Commercial real estate
- 5,137 SF
Current Use by Public Records
- 24 7 Notary Public / Notary Public
Property Details for 1946 Pierce St
- Year built
- 2024
- Property size
- 5,137 SF
- Property type
- Commercial real estate
- APN
- 514215013550
Description
This exceptional 11-unit apartment building, completed in 2024, presents a compelling investment opportunity in Hollywood, Florida. The property boasts 5,137 square feet on a 10,907 square foot lot, featuring 10 one-bedroom, one-bathroom units (approximately 550 sq ft each) and one studio unit. A complete renovation in 2023 included new windows, plumbing, electrical systems, roof repairs, stucco, and central AC. Units feature high-traffic waterproof vinyl flooring, quartz countertops, stainless steel appliances, white kitchen cabinets, and modern 3-way shower systems. Hurricane-impact windows and doors enhance security. Individual electric meters provide tenant control over utilities. Each unit is equipped with a brand-new split-system air conditioning unit. The property enjoys a prime location near downtown Hollywood, transportation hubs, and I-95, with proximity to shops, restaurants, and beaches. A large tropical courtyard offers a relaxing outdoor space. On-street and limited off-street parking is available. The current Net Operating Income (NOI) is $247,200, with a pro-forma NOI of $282,000, yielding a current cap rate of 8.25% and a pro-forma cap rate of 9.42%. The asking price is $2,995,000, representing a price per unit of $272,272.73 and a price per square foot of $583.03. The property is zoned ND-2. The building is a single-story structure. The property is owned as a corporation. The anticipated occupancy date is January 30, 2024.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hollywood
- County
- Broward
- State
- Florida
- Longitude
- -80.146478211993
- Latitude
- 26.016112872724
