1531 Federal HwyHollywood, FL 33020

This Hollywood, FL retail property presents a compelling investment opportunity. Located at 1531 N Federal Hwy, this 3,569 sq ft, single-story building sits on a 12,506 sq ft lot and boasts a newly extended 10.8-year absolute NNN lease (commencing December 1, 2024, and expiring August 31, 2035) with a corporate guarantee. The property features a diverse tenant mix including CVS Pharmacy, Red, White & Bloom, House of Platinum Cannabis, Cookies, Curaleaf, Trulieve, and MedMen, ensuring strong occupancy (100%). The lease includes 10% rent bumps every five years and two five-year lease options. The property benefits from a high traffic count (32,570+ vehicles per day) and excellent visibility on US-1 (Federal Highway). With a current NOI of $157,950 and a 7.00% cap rate, this property offers a strong return on investment. The property is zoned FH-2, allowing for a wide range of uses and potential redevelopment opportunities (37,000+ sq ft maximum building area, 14 stories). The surrounding area shows significant growth and development, including nearly $1.5 billion in projects near the ArtsPark at Young Circle, less than a mile away. The property is also situated within a densely populated area with high average household incomes ($104,715 within a 3-mile radius), providing a robust customer base. The building was constructed in 1971 and recently renovated in 2024. The asking price is $2,256,571 ($632.27/sq ft).