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

    908 56th Ave Hollywood, FL 33023-1913

    • Retail space
    • 4,946 SF
    • 0.35 lot acres
    OFF-MARKET
    Last Sale
    Mar 26, 2020
    $700,000
    Value Estimations
    $895,000
    Show details
    Cap Rate Potential
    7.5%
    Retail space
    Location Intelligence
    Property ID
    US18-3488338
    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

    • Gee Spa / Beauty Salon / Spa
    • Glamorosas International Spa / Health Spa / Massage Therapist

    Property Details for 908 56th Ave

    Year built
    1961
    Construction
    CONCRETE
    Lot size
    0.35 lot acres
    Property size
    4,946 SF
    Zone code
    C-3
    Property type
    Retail space
    APN
    51-41-24-10-3160
    APU
    514124103160

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $915,000
      ML approach
      $1,010,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,145,000
      6.5%
      $1,060,000
      7%
      $985,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $999,000
      Market price range: $1000k - $1.51M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,230,000
      Current use
      WAREHOUSE, STORAGE
      $1,400,000
      Change: +14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hollywood
    County
    Broward
    State
    Florida
    Longitude
    -80.1994
    Latitude
    26.002
    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
    $15,681
    $152,770
    $513,020
    $665,790
    -
    $152,770
    $513,020
    $665,790

    Comparable in this City

    • Value Estimation
      $3,460,000
      16,237 SF

      6927 Miramar Pkwy, Unit 6959

      RETAIL STORES (PERSONAL SERVICES) • 16,237 SF
      6927 Miramar Pkwy, Miramar, FL 33023-6004
      View Details
    • Value Estimation
      $1,135,000
      5,772 SF

      2500 State Rd 7th 7

      RETAIL STORES (PERSONAL SERVICES) • 5,772 SF
      2500 State Rd 7th 7, Miramar, FL 33023-4171
      View Details
    • Value Estimation by Request
      14,000 SF

      7155-7159 Pembroke Rd

      Lifestyle centers • 14,000 SF
      7155-7159 Pembroke Rd, Pembroke Pines, FL 33023
      View Details
    • Value Estimation
      $1,280,000
      6,767 SF

      1450 State Rd 7th 7

      RETAIL STORES (PERSONAL SERVICES) • 6,767 SF
      1450 State Rd 7th 7, Hollywood, FL 33023-6715
      View Details
    • Value Estimation
      $2,550,000
      11,654 SF

      900 State Rd 7th 7

      RETAIL STORES (PERSONAL SERVICES) • 11,654 SF
      900 State Rd 7th 7, Hollywood, FL 33023-6730
      View Details
    • Value Estimation
      $2,375,000
      9,785 SF

      4790 Hallandale Bch Blvd

      RETAIL STORES (PERSONAL SERVICES) • 9,785 SF
      4790 Hallandale Bch Blvd, Pembroke Park, FL 33023-4341
      View Details

    Similar Nearby for Sale

    • $1,250,000
      0.27 Acres

      West Park Commercial Building For Sale

      Free-standing building suitable for retail, office, or professional use.
      5738 W Hallandale Beach Blvd, West Park, FL 33023
      View Details
    • Contact for pricing

      Freestanding Retail Property For Sale

      Freestanding retail property in a strong commercial corridor.
      6310 Pembroke Rd, Miramar, FL 33023
      View Details
    • $699,000
      2,741 SF

      Miramar Renovated Versatile Commercial Building

      Recently renovated 2,741 SF building in a strategic Miramar location.
      2120 SW 60Th Ter, Hollywood, FL 33023
      View Details
    • Contact for pricing

      Established Beauty Salon in Miramar

      Operating beauty salon in a busy Miramar shopping center.
      Miramar Pkwy Miramar Pkwy, Miramar, FL 33023
      View Details
    • $4,300,000
      0.93 Acres

      Pembroke Park Retail Investment Opportunity

      Fully leased retail plaza in Pembroke Park with strong income potential.
      4250 W Hallandale Beach Blvd, Hollywood, FL 33023
      View Details
    • Contact for pricing

      Hallandale Beach Blvd Free-Standing Building

      Free-standing building on Hallandale Beach Blvd, suitable for various uses.
      4151 W Hallandale Beach Blvd, West Park, FL 33023
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      840 SF

      Retail Space in Miramar Parkway

      Retail space available in a grocery-anchored shopping center.
      6819-6921 Miramar Pkwy, Miramar, FL 33023
      View Details
    • $1,500 /Mo

      Free-Standing Building Office/Retail Space

      550 sq ft space for lease in high-traffic location.
      1000 S 56Th Ave, Hollywood, FL 33023
      View Details
    • $8,787 /Mo

      Retail Building on Hallandale Beach

      Free-standing retail building with a large lot near 441.
      5921 W Hallandale Beach Blvd, West Park, FL 33023
      View Details
    • $23 SF/Yr
      40,511 SF

      Retail Space in Pembroke Park

      Retail space available in a shopping plaza on Hallandale Blvd.
      4250 W Hallandale Beach Blvd, Hollywood, FL 33023
      View Details
    • Contact for pricing
      750 SF

      Miramar Retail Space with Drive-Thru

      Retail space with drive-thru, high visibility, and convenient access.
      7950-7968 Miramar Pkwy, Miramar, FL 33023
      View Details
    • $20 SF/Yr
      650 SF

      Retail Space in Miramar Shops

      Neighborhood retail strip center with high-traffic visibility.
      7150-7172 Pembroke Rd, Miramar, FL 33023
      View Details
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    908 56th Ave
    Hollywood, FL 33023-1913
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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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