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Realnex Investment Analysis Software 1816 Harrison ST. 4173 SF Retail/Office Building Downtown Hollywood Price: $1,325,000 Great Commercial building in the heart of Hollywood Downtown, Florida Liberal YC Zoning 1816 HARRISON STREET 1816 HARRISON STREET • HOLLYWOOD, FL 33020 4151 Hollywood Blvd | Hollywood, FL 33020 | Phone: (954) 361-0000 | Fax: (954) 361-0070 | www.DeMarcoGroup.com TABLE OF CONTENTS Property Summary 3 Property Description 4 Property Photos 5 John DeMarco, ACP, CCIM Comparable Sales 7 954­453­1000 Lease Comparables 14 [email protected] Hollywood Brochure 19 Opportunity Zone 22 Location Map 26 Maps and Aerials 27 Business Map 28 Zoning 29 Hollywood Development Activity 48 The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projections and analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or other professional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax or other professional area before making any decisions. PROPERTY SUMMARY Page 03 Property Summary Property Overview Property Type Commercial Approximately 2,600 sq. ft. available for retail or other use. Second floor Purchase Price $1,325,000 unfinished 1,573 sq. ft. Great for investor. Property is located in an opportunity zone. Lot Size 3,202 Sq. Ft. Property Size 4,794 Sq. Ft Location Overview Zoning YC The City of Hollywood is a beachfront community located in Pro Forma NOI $134,232 southeastern Broward County midway between Miami and Fort Pro Forma Cap Rate 10.13% Lauderdale. Founded by Joseph Young in 1925, Hollywood is approximately 30 square miles in size and is Broward’s third­ largest municipality with a population of roughly 153,000 residents. Hollywood is the second largest City in Broward County and considered to be a very desirable both as a City to reside in and to do business in. The county is well positioned to attract companies that want to be in South Florida and benefit from the region’s strong international links but don’t necessarily want to pay the high costs of doing business in Miami ­Dade and Palm Beach counties. PROPERTY DESCRIPTION Page 04 John DeMarco with Re/Max 5 Star Realty is proud to represent the sale of 1816 Harrison Street. A+++ Location in the heart of Downtown Hollywood and within an opportunity zone. The subject property consists of 4,173 sf, 2,600 sf on the ground floor and an additional 1,573 sf on the second floor which can be used as storage or office. The property was formerly occupied by long term check cashing store tenant. Perfect building for any office or retail use. The immediate area has over 5,000 new permanent residences coming online in the near future with over 1 billion in new construction projects approved and breaking ground in the near future. It is directly across the street from the block 40 project "great southern hotel". Current occupants of Downtown Hollywood enjoy all the benefits of a downtown workplace which include great business retail visibility, desirable employee work­place location, close proximity to top restaurants and nightlife, major national events, ample parking next near parking garage and much more. Recent comparable sales have sold as high as $369 per foot, this building is priced to sell at only $276 p/sf. An investor can lease this 4,794 Sq. Ft property for $28.00 p/sf NET, which would yield an investor a 10.13% pro­forma capitalization rate at full asking price. This is an excellent opportunity to invest in a well maintained and turn­key operating property in a A+++ location. Call John DeMarco for additional information. PROPERTY PHOTOS Page 05 PROPERTY PHOTOS Page 06 COMPARABLE SALES Page 07 1 500 N Federal Hwy SOLD Hollywood, FL 33020 Broward County Sale Date: 12/27/2018 Bldg Type: RetailFreestanding Sale Price: $1,300,000 - Confirmed Year Built/Age: Built 1952 Age: 66 Price/SF: $449.05 RBA: 2,895 SF Pro Forma Cap - Parcel No: 51-42-15-01-8411 Actual Cap Rate: - Comp ID: 4638443 Sale Conditions: - Research Status: Confirmed 2 601 N Federal Hwy SOLD Hallandale Beach, FL 33009 Broward County Sale Date: 10/09/2018 Bldg Type: RetailAuto Dealership Sale Price: $12,000,000 - Full Value Year Built/Age: Built 1967 Age: 51 Price/SF: $372.20 RBA: 32,241 SF Pro Forma Cap - Parcel No: 51-42-22-35-0010 Actual Cap Rate: - Comp ID: 4549014 Sale Conditions: - Research Status: Full Value 3 1531 N Federal Hwy SOLD Hollywood, FL 33020 Broward County Sale Date: 04/29/2019 (395 days on mkt) Bldg Type: RetailFreestanding Sale Price: $1,410,000 - Confirmed Year Built/Age: Built 1971 Age: 48 Price/SF: $401.71 RBA: 3,510 SF Pro Forma Cap - Parcel No: 51-42-10-12-0180 Actual Cap Rate: - Comp ID: 4745913 Sale Conditions: High Vacancy Property Research Status: Confirmed 4 1925 Hollywood Blvd SOLD Hollywood, FL 33020 Broward County Sale Date: 09/16/2019 Bldg Type: RetailRestaurant Sale Price: $1,800,000 - Full Value Year Built/Age: Built 1950 Age: 69 Price/SF: $318.58 RBA: 5,650 SF Pro Forma Cap - Parcel No: 51-42-15-01-4370 Actual Cap Rate: - Comp ID: 4887917 Sale Conditions: Purchase By Tenant Research Status: Full Value 5 2733 Hollywood Blvd - Sherwin-Williams (Part of Portfolio) SOLD Hollywood, FL 33020 Broward County Sale Date: 12/28/2018 Bldg Type: RetailFreestanding Sale Price: $2,860,647 - Full Value Year Built/Age: Built 1959 Age: 59 Price/SF: $357.58 RBA: 8,000 SF Pro Forma Cap - Parcel No: Actual Cap Rate: - Comp ID: 4628545 Sale Conditions: Bulk/Portfolio Sale, Investment Triple Net ... Research Status: Full Value 6 2910 Hollywood Blvd - Stratford's Bar and Restaurant SOLD Hollywood, FL 33020 Broward County Sale Date: 01/30/2019 (89 days on mkt) Bldg Type: RetailRestaurant Sale Price: $1,475,000 - Confirmed Year Built/Age: Built 1947 Age: 72 Price/SF: $363.84 RBA: 4,054 SF Pro Forma Cap - Parcel No: 51-42-16-02-7040 Actual Cap Rate: 6.96% Comp ID: 4658866 Sale Conditions: - Research Status: Confirmed Copyrighted report licensed to RE/MAX 5 Star Realty - 995182. 2/4/2020 Page 1 COMPARABLE SALES Page 08 7 2461-2471 Pembroke Rd SOLD Hollywood, FL 33020 Broward County Sale Date: 10/11/2019 (70 days on mkt) Bldg Type: RetailStorefront Sale Price: $1,075,000 - Confirmed Year Built/Age: Built 1956 Age: 63 Price/SF: $358.33 RBA: 3,000 SF Pro Forma Cap - Parcel No: 51-42-21-03-0690, 51-42-21-03-0700, 51-42-21- Actual Cap Rate: 9.80% 03-0710, 51-42-21-03-0720 [Partial List] Comp ID: 4914453 Sale Conditions: - Research Status: Confirmed 8 1920 Tyler St SOLD Hollywood, FL 33020 Broward County Sale Date: 01/10/2019 Bldg Type: RetailRestaurant Sale Price: $550,000 - Confirmed Year Built/Age: Built 1960 Age: 59 Price/SF: $366.67 RBA: 1,500 SF Pro Forma Cap - Parcel No: 51-42-15-01-4490 Actual Cap Rate: - Comp ID: 4652360 Sale Conditions: - Research Status: Confirmed Copyrighted report licensed to RE/MAX 5 Star Realty - 995182. 2/4/2020 Page 2 COMPARABLE SALES Page 09 Trend Report Dollar Volume Report Time Frame: 10/1/2018 - 2/4/2020 Legend: Sold Transactions Current Survey Number of Transactions 8 Sold Transactions Total Dollar Volume $22,470,647 Total Bldg Square Feet 60,850 Total Land in Acres 4.51 Total Land in SF 196,456 Average Price $2,808,831 Average Number of SF 7,606 Time Interval - Quarterly Average Price Per Bldg SF $369.28 Median Price Per SF $365.26 Average Number of Acres 0.56 Average Number of SF(Land) 24,557 Average Price Per Unit - Median Price Per Unit - Average Number of Units - Actual Cap Rate 8.38% Copyrighted report licensed to RE/MAX 5 Star Realty - 995182. 2/4/2020 Page 3 COMPARABLE SALES Page 10 Trend Report Average Price Per SF Report Time Frame: 10/1/2018 - 2/4/2020 Legend: Sold Transactions Current Survey Number of Transactions 8 Sold Transactions Total Dollar Volume $22,470,647 Total Bldg Square Feet 60,850 Total Land in Acres 4.51 Total Land in SF 196,456 Average Price $2,808,831 Average Number of SF 7,606 Time Interval - Quarterly Average Price Per Bldg SF $369.28 Median Price Per SF $365.26 Average Number of Acres 0.56 Average Number of SF(Land) 24,557 Average Price Per Unit - Median Price Per Unit - Average Number of Units - Actual Cap Rate 8.38% Copyrighted report licensed to RE/MAX 5 Star Realty - 995182. 2/4/2020 Page 4 COMPARABLE SALES Page 11 Trend Report Median Price Per SF Report Time Frame: 10/1/2018 - 2/4/2020 Legend: Sold Transactions Current Survey Number of Transactions 8 Sold Transactions Total Dollar Volume $22,470,647 Total Bldg Square Feet 60,850 Total Land in Acres 4.51 Total Land in SF 196,456 Average Price $2,808,831 Average Number of SF 7,606 Time Interval - Quarterly Average Price Per Bldg SF $369.28 Median Price Per SF $365.26 Average Number of Acres 0.56 Average Number of SF(Land) 24,557 Average Price Per Unit - Median Price Per Unit - Average Number of Units - Actual Cap Rate 8.38% Copyrighted report licensed to RE/MAX 5 Star Realty - 995182. 2/4/2020 Page 5 COMPARABLE SALES Page 12 Trend Report 4Q18 10/1-12/31/18 1Q19 01/1-3/31/19 2Q19 04/1-6/30/19 3Q19 07/1-9/30/19 Sold Transaction Sold Transaction Sold Transaction Sold Transaction Number of Transactions 3 2 1 1 Total Dollar Volume $16,160,647 $2,025,000 $1,410,000 $1,800,000 Total Bldg Square Feet 43,136 5,554 3,510 5,650 Total Land in Acres 3.09 0.42 0.29 0.14 Total Land in SF 134,600 18,295 12,632 6,098 Average Price $5,386,882 $1,012,500 $1,410,000 $1,800,000 Average Number of SF 14,379 2,777 3,510 5,650 Average Price Per Bldg SF $374.64 $364.60 $401.71 $318.58
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