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    Property profile & analytics

    2231 Fillmore St Hollywood, FL 33020

    • Commercial real estate
    • 41,000.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0346409
    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

    • Commercial real estate

    Property Details for 2231 Fillmore St

    Lot size
    41,000.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 41,000-acre commercial land parcel in Hollywood, Florida, presents a rare investment opportunity. Located at 2231 Fillmore St, in Broward County, zip code 33020 (26.0152104, -80.1523415), this property is ideally situated for significant development. A proposed plan envisions a 62-unit residential complex featuring modern, efficient floor plans and a full suite of amenities, including a fitness center, swimming pool, community lounge, and secure parking. The development is designed with a focus on community living and sustainability, incorporating contemporary architectural designs, high-quality construction materials, and energy-efficient systems. Projected site plan approval is expected by July 2024. This prime location offers easy access to major highways (I-95, Florida's Turnpike) and public transportation, placing residents minutes from Hollywood Beach and Broadwalk, the ArtsPark at Young Circle, Seminole Hard Rock Hotel & Casino, and numerous parks and recreational areas. Hollywood's robust economic growth and high demand for residential units ensure strong rental yields and significant property appreciation, making this a compelling investment opportunity in a thriving market. The asking price for this expansive property is $4,200,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hollywood
    County
    Broward
    State
    Florida
    Longitude
    -80.1523415
    Latitude
    26.0152104

    Comparable in this City

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      Development Opportunity with Approved Plans

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      2517 Raleigh St Lk Side, Hollywood, FL 33020
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      Hollywood Development Opportunity For Sale

      Development opportunity in Hollywood with existing income.
      2443 Polk St, Hollywood, FL 33020
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    Similar Nearby for Sale

    • $1,200,000

      Development Opportunity with Approved Plans

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      Lakeside Lot with Deck

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      2517 Raleigh St Lk Side, Hollywood, FL 33020
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    • $1,100,000

      Hollywood Development Opportunity For Sale

      Development opportunity in Hollywood with existing income.
      2443 Polk St, Hollywood, FL 33020
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    • $2,600,000
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      Approved Development Project Near Hollywood

      Approved development project featuring a 5-story building with 48 units.
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    • $639,999
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      Hollywood Residential Land Opportunity

      Prime location in Hollywood Lakes, plans approved and included.
      1452 Jefferson St, Hollywood, FL 33020
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    • $725,000
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      Oversized Corner Lot Development Opportunity

      Oversized corner lot with pre-approved plans for five townhomes.
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    Similar Nearby for Lease

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      30,000 SF

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      Downtown Hollywood Office Suite

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      898,913 SF

      Oakwood Plaza: Retail Investment

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      Hollywood Warehouse Space Available

      Multiple warehouse spaces, 3,000-55,000 SF
      2800 30Th Ave, Hollywood, FL 33020
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    • $127 SF/Yr
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      Hollywood Warehouse - Dixie Hwy Corner

      1,176 sq ft warehouse, ½ acre lot, great visibility.
      1708 Dixie Hwy, Hollywood, FL 33020
      View Details
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    2231 Fillmore St
    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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