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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    601 Ocean Dr Hollywood, FL 33019-2007

    • Office buildings
    • 2,890 SF
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    Dec 20, 2023
    $2,100,000
    Value Estimations
    $1,940,000
    Show details
    Cap Rate Potential
    2.8%
    Office buildings
    Location Intelligence
    Property ID
    US19-0882161
    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 601 Ocean Dr

    Year built
    1981
    Construction
    CONCRETE
    Lot size
    0.07 lot acres
    Property size
    2,890 SF
    Zone code
    BRT-25-R
    Property type
    Office buildings
    APN
    51-42-13-01-3180
    APU
    514213013180

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,090,000
      ML approach
      $2,055,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,484,000
      Market price range: $917k - $1.88M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,315,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,930,000
      Change: +47% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,700,000
      Change: +30% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hollywood
    County
    Broward
    State
    Florida
    Longitude
    -80.1177
    Latitude
    26.0087
    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
    $18,825
    $132,240
    $682,030
    $814,270
    -
    $132,240
    $682,030
    $814,270

    Comparable in this City

    • Value Estimation
      $590,000
      3,125 SF

      525 Ocean Dr

      OFFICE BUILDING • 3,125 SF
      525 Ocean Dr, Hollywood, FL 33019-1413
      View Details
    • Value Estimation
      $325,000
      2,063 SF

      101 Ocean Dr Ph, Unit 3

      OFFICE BUILDING • 2,063 SF
      101 Ocean Dr Ph, Hollywood, FL 33019-1742
      View Details
    • Value Estimation
      $380,000
      6,331 SF

      201 Ocean Dr

      OFFICE BUILDING (MULTI-STORY) • 6,331 SF
      201 Ocean Dr, Hollywood, FL 33019-1784
      View Details
    • Value Estimation
      $460,000
      2.03 Acres

      3725 Ocean Dr

      PARKING LOT • 2.03 Acres
      3725 Ocean Dr, Hollywood, FL 33019-2926
      View Details
    • Value Estimation
      $185,000
      5,444 SF

      314 Michigan St

      MOTEL • 5,444 SF
      314 Michigan St, Hollywood, FL 33019-1205
      View Details
    • Value Estimation
      $1,575,000
      124,996 SF

      327 Nebraska St

      PARKING GARAGE, PARKING STRUCTURE • 124,996 SF
      327 Nebraska St, Hollywood, FL 33019
      View Details

    Similar Nearby for Sale

    • $1,375,000
      2,593 SF

      Hollywood Beach Retail/Office Investment

      Prime South Florida location, high-income area.
      3800 Ocean Dr, Hollywood, FL 33019
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    • $3,200,000
      6,241 SF

      Office/Retail Owner User Opportunity

      Office/retail space featuring private offices, reception, conference room, and kitchenette.
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    • $1,740,000

      Renovated Office Condominium with Ocean Views

      Renovated office condominium featuring marble floors and ocean views.
      3800 S Ocean Dr, Hollywood, FL 33019
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    • $615,000

      Stunning Office Space, Hollywood Beach

      Prestigious office space with ocean views, ideal for professionals.
      3800 S Ocean Dr, Hollywood, FL 33019
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    • $1,390,000

      Exclusive Office Suite on Ocean

      Prime Hollywood Beach office suite with nine private offices.
      3800 S Ocean Dr, Hollywood, FL 33019
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    • $1,390,000

      Hollywood Office Space on Ocean

      Office space with private offices and abundant natural light.
      3800 S Ocean Dr, Hollywood, FL 33019
      View Details

    Similar Nearby for Lease

    • $1,950 /Mo
      990 SF

      Luxury Office with Ocean Views

      Luxury office space with marble floors and ocean views.
      3800 S Ocean Dr, Hollywood, FL 33019
      View Details
    • $2 SF/Yr
      2,500 SF

      Ocean Drive Office Suite for Lease

      Prime Oceanfront Office Space Available
      4111 Ocean Dr, Hollywood, FL 33019
      View Details
    • $990 /Mo
      241 SF

      Boutique Office Space on Ocean

      Elegant 241 SF office with premium finishes and security.
      3800 S Ocean Dr, Hollywood, FL 33019
      View Details
    • Contact for pricing

      Hollywood Beach Office Suite

      Prime Ocean Drive Office Space, 3 Private Offices
      3800 Ocean Dr, Hollywood, FL 33019
      View Details
    • $33 SF/Yr
      2,186 SF

      Harrison Street Commercial Space Available

      Well-maintained commercial space with high visibility and rear parking.
      1926 Harrison St, Hollywood, FL 33019
      View Details
    • $1,950 /Mo
      954 SF

      Renovated Office Suite on Ocean

      Luxury office suite with modern design and 24/7 security.
      3800 S Ocean Dr, Hollywood, FL 33019
      View Details
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    601 Ocean Dr
    Hollywood, FL 33019-2007
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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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