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    Property profile & analytics

    6966 Taft St Hollywood, FL 33024

    • Office buildings
    • 2,090 SF
    • 0.18 lot acres
    For Sale
    View listing
    $475,000
    Last Sale
    Apr 23, 2021
    $399,000
    Value Estimations
    Cap Rate Potential
    8%
    Office buildings
    Location Intelligence
    Property ID
    US18-5261598
    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

    • Dr. Augustine Osondu Adiboshi MD / Psychiatrist
    • The Party Station Inc. / Photographer

    Property Details for 6966 Taft St

    Year built
    1974
    Construction
    CONCRETE
    Lot size
    0.18 lot acres
    Property size
    2,090 SF
    Zone code
    O-1
    Property type
    Office buildings
    APN
    51-41-11-17-2700
    APU
    514111172700

    Description

    This exceptional mixed-use property, located at 6966 Taft Street, Unit 1, Hollywood, Florida, presents a compelling investment opportunity. Boasting 2,090 square feet on a 0.18-acre lot, this property is ideally situated on a major commercial thoroughfare, Taft Street. The building currently houses a medical business which is not currently operating due to unforeseen circumstances

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $535,000
      ML approach
      $510,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $715,000
      6.5%
      $660,000
      7%
      $615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $557,000
      Market price range: $450k - $919k
      AI Estimate
      $430,000
      Market price range: $300k - $700k

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

    Location Insight

    • Map
    • Local Demand
    City
    Hollywood
    County
    Broward
    State
    Florida
    Longitude
    -80.2272
    Latitude
    26.0242
    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
    $9,178
    $77,510
    $314,650
    $392,160
    -
    $77,510
    $314,650
    $392,160

    Comparable in this City

    • Value Estimation
      $855,000
      33,616 SF

      2301 University Dr

      PROFESSIONAL BUILDING (MULTI-STORY) • 33,616 SF
      2301 University Dr, Pembroke Pines, FL 33024-3617
      View Details
    • Value Estimation
      $505,000
      1,792 SF

      10011 Pnes Blvd Ste, Unit 202

      OFFICE BUILDING (MULTI-STORY) • 1,792 SF
      10011 Pnes Blvd Ste, Pembroke Pines, FL 33024-6167
      View Details
    • Value Estimation
      $1,150,000
      106,968 SF

      9050 Pnes Blvd

      OFFICE BUILDING (MULTI-STORY) • 106,968 SF
      9050 Pnes Blvd, Pembroke Pines, FL 33024-6455
      View Details
    • Value Estimation
      $900,000
      3,072 SF

      10011 Pnes Blvdmulti

      OFFICE BUILDING (MULTI-STORY) • 3,072 SF
      10011 Pnes Blvdmulti, Pembroke Pines, FL 33024-6189
      View Details
    • Value Estimation
      $8,640,000
      34,493 SF

      6067 Hollywood Blvd

      OFFICE BUILDING (MULTI-STORY) • 34,493 SF
      6067 Hollywood Blvd, Hollywood, FL 33024-7947
      View Details
    • Value Estimation
      $680,000
      12,297 SF

      7665 Davie Rd Ext

      OFFICE BUILDING (MULTI-STORY) • 12,297 SF
      7665 Davie Rd Ext, Hollywood, FL 33024-2600
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      33,474 SF

      Office Building on Taft Street

      Office building with 24-hour access and abundant parking.
      6600 Taft St, Hollywood, FL 33024
      View Details
    • $3,400,000
      12,189 SF

      University Drive Frontage Office Building

      Office building with frontage on University Drive, fully leased.
      3157 N University Dr, Hollywood, FL 33024
      View Details
    • $855,120
      2,036 SF

      Professional Office Space in Hollywood

      Well-maintained office property in a desirable Broward County location.
      9710 Stirling Rd, Hollywood, FL 33024
      View Details
    • Contact for pricing

      Furnished Medical Office Suite

      Turn-key medical office suite in Pines Professional Park.
      2225 N University Dr, Hollywood, FL 33024
      View Details
    • New
      $525,000

      Commercial Space for Medical Field

      Commercial space with 18 units, ideal for medical professionals.
      Pines Blvd, Pembroke Pines, FL 33024
      View Details
    • $699,000
      1,615 SF

      Hollywood Medical Office Building

      1,615 SF Medical Office - $699,000
      6740 Taft St, Hollywood, FL 33024
      View Details

    Similar Nearby for Lease

    • $492 /Mo
      26,050 SF

      Pembroke Pines Office Space for Lease

      Prime Office Suites, Flexible Options, Great Location
      9000 Sheridan St, Pembroke Pines, FL 33024
      View Details
    • Contact for pricing

      Hollywood Office Space for Lease

      Prime Hollywood Office, Single Tenant
      1640 70Th Way, Hollywood, FL 33024
      View Details
    • $25 SF/Yr
      64 SF

      Medical Office Park For Lease

      Prime medical suites available in high-visibility Hollywood location.
      9900-10000 Stirling Rd, Hollywood, FL 33024
      View Details
    • $700 /Mo

      Ground Floor Office For Rent

      Ground floor office space available immediately for rent.
      7777 Davie Road Ext, Hollywood, FL 33024
      View Details
    • $276 SF/Yr
      1,615 SF

      Hollywood Office Space for Lease

      1,615 SF Office, Single Tenant, Broward County
      6740 Taft St, Hollywood, FL 33024
      View Details
    • $25 SF/Yr
      64,436 SF

      Hollywood Medical Office Park

      Prime Medical Suites Available in South Florida
      9900 Stirling Rd, Hollywood, FL 33024
      View Details
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    Hollywood, FL 33024
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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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