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    2414 Johnson St Hollywood, FL 33020

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    2414 Johnson St Hollywood, FL 33020

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    • Commercial real estate
    • 7,623 SF
    • 0.48 lot acres
    Off-Market
    Property ID
    US19-0731066
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2414 Johnson St

    Year built
    1957
    Lot size
    0.48 lot acres
    Property size
    7,623 SF
    Property type
    Commercial real estate

    Description

    This exceptional 17-unit apartment building presents a compelling value-add opportunity in the thriving Hollywood, Florida market. Located at 2414 Johnson St, this fee-simple property boasts 7,623 square feet across two buildings (one-story and two-story) on a 0.48-acre lot. Built in 1957 and renovated between 2016 and 2017, the property features a desirable unit mix: three two-bedroom/one-bathroom, six one-bedroom/one-bathroom, and eight studio units. Each unit includes a fully equipped kitchen, through-wall air conditioning, and tiled floors. The property includes 19 parking spaces and an unused laundry facility with potential for additional income. All utilities are currently paid by the owner, with each building having its own septic tank and drain fields. The asking price is $3,060,000, representing $401 per square foot and $180,000 per unit. The property enjoys a 6.43% cap rate and a pro-forma NOI of $196,843. Its strategic location between I-95 and US Route 1, near major employers, including the Seminole Hard Rock Hotel & Casino, Hollywood/Fort Lauderdale International Airport, and Port Everglades, ensures strong rental demand. The surrounding area comprises primarily single-family homes and similar multifamily buildings, creating a stable and desirable neighborhood. This property offers significant upside potential through effective management and lease-up, along with potential capital improvements to further enhance value and achieve a double-digit cash-on-cash return. The strong rental market, coupled with the property's desirable unit mix and convenient location, makes this a truly exceptional investment opportunity. The area's robust demographics, with over 162,200 people and 95,100 employees within a 3-mile radius, further solidify its investment potential. The recent expansion of gaming at the Seminole Hard Rock Hotel & Casino is expected to boost tourism and rental demand in the long term.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hollywood
    County
    Broward
    State
    Florida
    Longitude
    -80.155286
    Latitude
    26.018245

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      Multifamily Property in Hollywood, Florida

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    Similar Nearby for Sale

    • $999,000
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      Approved Site Plan in Hollywood

      8,000 sqft corner lot with approved 4-story building plans.
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    • $795,000

      Hollywood Triplex Investment Opportunity

      High-Income Triplex, Prime Location
      1936 Washington St, Hollywood, FL 33020
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      7,263 SF

      Renovated Hollywood Multifamily Investment

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      5,137 SF

      Multifamily Property in Hollywood, Florida

      11-unit multifamily property available for sale in Hollywood, Florida.
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      View Details
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    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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