1201 21St AveHollywood, FL 33020

Property Details for 1201 21St Ave

Year built

1991

Construction

STEEL FRAME

Lot size

1.71 AC

Property size (Sq ft)

9,150 SF

Zone code

DH-3

Property type

Auto shops

APN

51-42-03-10-0331

APU

514203100331

Description

This exceptional 1.71-acre (74,576 sq ft) lot, located at 1201 N 21st Ave in Hollywood, Florida (zip code 33020), presents a remarkable opportunity for high-density residential development. Situated in Broward County within a pro-development DH-3 zoning corridor, this property allows for the construction of 200 apartment units by right, eliminating lengthy and costly zoning approvals. Its strategic location offers unparalleled convenience, being just one mile from Interstate I-95 and three miles from the renowned Hollywood Beach and its vibrant Broadwalk. The site's proximity to Downtown Hollywood ensures easy access to a wealth of amenities, including restaurants, shops, and entertainment venues. The asking price for this exceptional development opportunity is $8,000,000. This is a rare chance to capitalize on the thriving Hollywood real estate market and create a significant residential development in a highly desirable location. The property's size and zoning make it an ideal investment for experienced developers seeking a high-return project.

• CAP approach

  CAP return

  Valuation

  6%

  $4,812,172

  6.5%

  $4,442,005

  7%

  $4,124,719

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,889,115

  Geo Method

  $9,889,115

• Alternative Use

  Use

  Valuation

  Residential

  $3,746,997

  Hospitality

  $3,432,230

  Educational

  $2,855,574

  Medical

  $2,953,782

  Retail

  $4,442,005

Location Insight

City

Hollywood

County

Broward

State

Florida

Latitude

26.0219

Longitude

-80.1479

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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