2243 Simms St Hollywood, FL 33020

Property Details for 2243 Simms St

Year built

1959

Construction

CONCRETE

Lot size

0.11 lot acres

Property size

3,478 SF

Zone code

RS-1

Property type

Retail space

APN

51-42-04-01-1260

APU

514204011260

Description

This exceptional investment opportunity in Hollywood, Florida, presents a portfolio of three adjacent properties totaling 4,138 square feet on a 12,500 square foot lot, priced at $650,000. The portfolio includes a 3,478 square foot former supermarket building situated on a 5,000 square foot lot at 2243 Simms Street, a 660 square foot, two-bedroom, one-bathroom single-family home on a separate 5,000 square foot lot at 2237 Simms Street, and a 2,500 square foot vacant residential lot (Parcel ID# 514204011240). Currently vacant, this portfolio offers significant upside potential. The properties are located in a designated Opportunity Zone, presenting attractive tax advantages. While the current NOI is $0, a pro-forma NOI of $60,000 projects a compelling 9.23% pro-forma cap rate. Built in 1959, this portfolio presents a unique chance to reposition these assets and capitalize on the vibrant Hollywood market. The properties are zoned for mixed-use, allowing for diverse development options. This is a rare opportunity to acquire a multi-property portfolio in a prime location with substantial redevelopment potential. The properties are ready for an investor to add their vision and create a profitable venture.

Location Insight

City

Hollywood

County

Broward

State

Florida

Longitude

-80.1531

Latitude

26.0366

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments