2040 Polk St Hollywood, FL 33020
For Sale
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This exceptional mixed-use property at 2040 Polk Street in Hollywood, Florida, presents a compelling investment opportunity. Located in a rapidly developing area of Broward County, this 1945-built property boasts a prime location within a thriving community experiencing significant growth. Currently zoned ND-3, the property allows for a variety of uses and offers the potential for substantial redevelopment, including the possibility of constructing a building up to 10 stories high. The surrounding area is undergoing a transformation, with 4,000 residential units currently under construction, significantly enhancing walkability and introducing numerous entertainment options. The property's current configuration includes a wellness center and spa, as well as an Airbnb, demonstrating the potential for diverse income streams. This strategic location in downtown Hollywood is poised for continued growth, making it an ideal investment for those seeking a property with significant upside potential. The adjacent property to the south is also available for purchase, presenting a unique opportunity for large-scale redevelopment. The asking price for this property is $2,500,000. While the lot size is not specified, the property's zoning and location offer significant development potential. Further details are available upon request.
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Adrian Gonzalez & Associates P.A. Real Estate Agency
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Beauty of CBD (Bike/Boat/Book/etc) Store Cosmetic Store
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Beauty of Wax Spa & Massage Center Skin Care Clinic
ND-3 - North Downtown High Intensity Mixed-Use District Uses Main Permitted Uses Accessory Uses Special Exception Uses Prohibited Uses Adult Educational Facilities 1 Amusement Uses (Indoor and Outdoor) Light Manufacturing associated with Retail or Showroom Commercial Parking Garage Day Care Facility Schools (K-12) Adult Entertainment or Adult Related Uses Al…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
ND-3 · Hollywood, FLND-3 - North Downtown High Intensity Mixed-Use District Uses Main Permitted Uses Accessory Uses Special Exception Uses Prohibited Uses Adult Educational Facilities 1 Amusement Uses (Indoor and Outdoor) Light Manufacturing associated with Retail or Showroom Commercial Parking Garage Day Care Facility Schools (K-12) Adult Entertainment or Adult Related Uses All General and Heavy Manufacturing Uses Antique, Consignment, Collectible, and Vintage Store Artisan and Maker Manufacturing Assembly of Pre-manufactured Parts for Sale on Premises Bar, Lounge, or Night Club Bed and Breakfast Inn Commercial Uses Dry Cleaner (Drop-off and Pick-up Only) Food Processing Hotel Institutional Live-Work Microbrewery, Microdistillery, and Microwinery Motel Multi-Family Residential, except on the ground floor adjacent to Tyler Street and 21st Avenue Museum, Art Gallery, and Similar Cultural Uses Office Parking Lots and Garages (Commercial) Personal Service Place of Worship, Meeting Hall, and Fraternal Lodge Restaurant Retail (indoor) Schools (Business, Commercial, or Vocational; Recreational or Cultural; and University) 1 Outdoor produce sales (fresh fruit, vegetable, plant and flower retail sales), accessory to a grocery store, specialty market, or similar use 2 Tattoo, Body Art, or Body Piercing Establishments, associated with an Art Gallery 3 Any use customarily associated with one of the Main Permitted Uses. Automotive Sales, Paint, or Repair Bulk Sales, Storage, or Display of Lumber and Building Materials. Contractor Shop and Storage (Indoor or Outdoor) Gun Shop Outdoor Storage Pawn Shop Psychic Help Uses Self-Storage Facility Service Station Thrift Shop Any use not listed as a Main Permitted Use. 1 Adult Educational Facilities and Schools may require additional review for pedestrian and vehicular circulation, pick-up and drop off operations, traffic, etc. Limitations may be imposed in regards to capacity, hours of operation, parking, and circulation. 2 Outdoor produce sales shall provide a plan illustrating the layout, location, and dimensions of the outdoor sales area; shall not interfere or obstruct pedestrian flow; and shall be exempt from screening requirements. 3 Tattoo, Body Art, or Body Piercing Establishments shall be limited to 25 percent of the total gross floor area of the use; and exterior primary signage shall not be permitted. See Section 4.3 .J, 4.21 , and 4.22 for Additional Use Regulations and Performance Standards. (ii) ND-3 - North Downtown High Intensity Mixed-Use District Development Regulations Table.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
