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    Property profile & analytics

    215-235 21st Ave Hollywood, FL 33020

    • Office buildings
    • 8,160 SF
    • 0.60 lot acres
    OFF-MARKET
    Value Estimations
    $2,440,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0649884
    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

    • Office buildings

    Property Details for 215-235 21st Ave

    Year built
    1950
    Construction
    CONCRETE
    Lot size
    0.60 lot acres
    Property size
    8,160 SF
    Zone code
    DH-3
    Property type
    Office buildings
    APN
    51-42-15-01-1180
    APU
    514215011180

    Description

    This exceptional 8,160-square-foot flex space presents a unique opportunity in Hollywood, Florida's thriving Central Business District. Located at 215-235 South 21st Avenue, this single-tenant building sits on a 26,339-square-foot lot and offers a significant advantage: it's the only property in the area with a privately owned parking lot, providing 28 spaces plus additional street parking shared with the Harrison Street-facing building. The building currently boasts a zoning designation for office use, but alternative retail or commercial uses are highly probable upon approval. An added benefit is a 1,000-square-foot outdoor patio area. The asking rent is $20,000 per month gross, inclusive of operating expenses

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,800,000
      6.5%
      $2,585,000
      7%
      $2,400,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,986,000
      Market price range: $2.99M - $6.05M
      AI Estimate
      $1,742,000
      Market price range: $1.06M - $4.84M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,990,000
      Current use
      INDUSTRIAL (GENERAL)
      $3,750,000
      Change: -6% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,690,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hollywood
    County
    Broward
    State
    Florida
    Longitude
    -80.1485
    Latitude
    26.0099
    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
    $30,617
    $289,730
    $977,030
    $1,266,760
    -
    $289,730
    $977,030
    $1,266,760

    Comparable in this City

    • Value Estimation
      $7,120,000
      24,179 SF

      2227 Federal Hwy

      OFFICE BUILDING (MULTI-STORY) • 24,179 SF
      2227 Federal Hwy, Hollywood, FL 33020-2229
      View Details
    • Value Estimation
      $13,455,000
      45,681 SF

      2741 29th Ave

      OFFICE BUILDING (MULTI-STORY) • 45,681 SF
      2741 29th Ave, Hollywood, FL 33020-1503
      View Details
    • Value Estimation
      $5,340,000
      24,219 SF

      2514 Hollywood Blvd

      OFFICE BUILDING (MULTI-STORY) • 24,219 SF
      2514 Hollywood Blvd, Hollywood, FL 33020-6614
      View Details
    • Value Estimation
      $2,075,000
      6,858 SF

      2445 Hollywood Blvd

      OFFICE BUILDING • 6,858 SF
      2445 Hollywood Blvd, Hollywood, FL 33020-6605
      View Details
    • Value Estimation
      $1,170,000
      3,706 SF

      2432 Hollywood Blvd

      OFFICE BUILDING • 3,706 SF
      2432 Hollywood Blvd, Hollywood, FL 33020-6607
      View Details
    • Value Estimation
      $6,895,000
      31,345 SF

      3250 29th Ave

      OFFICE BUILDING (MULTI-STORY) • 31,345 SF
      3250 29th Ave, Hollywood, FL 33020-1313
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Office Space in Hollywood

      Office space available for sale in Hollywood, Florida.
      3250 N 29Th Ave, Hollywood, FL 33020
      View Details
    • $3,199,000

      Hollywood Office Building For Sale

      Fully leased office building in Hollywood CBD with redevelopment potential.
      1943 Tyler St, Hollywood, FL 33020
      View Details
    • Contact for pricing
      19,448 SF

      East Hollywood Office/Flex Building

      Freestanding 19,448 SF building on 0.73 acres in East Hollywood.
      2055 Liberty St, Hollywood, FL 33020
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Hollywood Office and Retail

      Premier office and retail building in Downtown Hollywood.
      1930 Harrison St, Hollywood, FL 33020
      View Details
    • Contact for pricing

      Hollywood Office Building For Rent

      Two-story office building with parking in prime Hollywood location.
      2555 Polk St, Hollywood, FL 33020
      View Details
    • Contact for pricing

      FL, Hollywood - Harrison Street

      Workspaces, services and support to help you grow your business in TX, Austin- Westview
      1930 Harrison St, Hollywood, FL 33020
      View Details
    • Contact for pricing
      147,877 SF

      Hollywood Office Space: 5,581 SF

      Prime 7th-floor office, stunning views, lease/sale.
      1720 Harrison St, Hollywood, FL 33020
      View Details
    • $1,800 /Mo
      Pending

      Functional Office Suite in Hollywood

      Full-service office suite with excellent accessibility and included amenities.
      2801 Greene St, Hollywood, FL 33020
      View Details
    • $1,657 /Mo

      Move-In Ready Office Spaces

      Remodeled office spaces with flexible options in Hollywood, Florida.
      2021 Coolidge St, Hollywood, FL 33020
      View Details
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    215-235 21st Ave
    Hollywood, FL 33020
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    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
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