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    2555 Polk St Hollywood, FL 33020-4317
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    Property profile & analytics

    2555 Polk St, Hollywood, FL 33020-4317

    View on Map
    • Office buildings
    • 3,080 SF
    • 0.29 lot acres
    Off-Market
    Last Sale Jun 12, 2024
    $1,400,000
    Property ID
    US18-8425939
    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
    $1,400,000
    Show details
    Cap Rate Potential
    4.5%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 2555 Polk St

    Year built
    1985
    Construction
    CONCRETE
    Lot size
    0.29 lot acres
    Zone code
    TC-1
    Property type
    Office buildings
    APN
    51-42-16-38-0010
    APU
    514216380010

    Description

    This exceptional 3,080-square-foot office building is ideally situated in the heart of Hollywood Beach, Florida, on Polk Street. Boasting a single-tenant occupancy, this property presents a unique opportunity for businesses seeking a prominent location. The building is zoned TC-1 and features a total of 21 parking spaces, ensuring ample convenience for employees and clients. The property's address is 2555 Polk Street, Hollywood, FL 33020, offering excellent visibility and accessibility. The building's single-suite configuration provides a cohesive and efficient workspace. The property is move-in ready. An additional $1,000 per month is available to lease the space fully furnished, including network infrastructure and multifunction equipment. This turnkey solution streamlines the relocation process, minimizing setup time and costs. The property's APN is 514216380010. This prime location offers unparalleled exposure and is situated in a thriving commercial area. The building's design and amenities make it an attractive option for a variety of businesses. This is a rare opportunity to secure a high-profile office space in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,400,000
      ML approach
      $1,400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,055,000
      6.5%
      $975,000
      7%
      $905,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,190,000
      Market price range: $1.13M - $2.28M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,505,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $2,055,000
      Change: +36% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,815,000
      Change: +20% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,395,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hollywood
    County
    Broward
    State
    Florida
    Longitude
    -80.159
    Latitude
    26.0127
    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
    $13,780
    $248,980
    $327,010
    $575,990
    -
    $248,980
    $327,010
    $575,990

    Comparable in this City

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

      2227 Federal Hwy

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

      2741 29th Ave

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

      2514 Hollywood Blvd

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

      2445 Hollywood Blvd

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

      2432 Hollywood Blvd

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

      3250 29th Ave

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

    Similar Nearby for Lease

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      Downtown Hollywood Office and Retail

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    • $1,200 /Mo
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      Boutique Office Building in Hollywood

      Office spaces with various styles, sizes, and included utilities.
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      High-Traffic Retail/Office Space Available

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      View Details
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    Hollywood, FL 33020-4317
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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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