1818 Sheridan StHollywood, FL 33020

Property Details for 1818 Sheridan St

Year built

1985

Construction

CONCRETE

Lot size

0.41 AC

Property size (Sq ft)

7,499 SF

Zone code

SS

Property type

Office properties

Property subtype

Office buildings

APN

51-42-10-35-0020

APU

514210350020

Description

Exceptional opportunity to acquire a fully stabilized and renovated 7,499 square foot medical office building in Hollywood, Florida. This single-tenant property boasts a strong 7.65% cap rate and a substantial net operating income of $218,760 annually, with a lease extending to January 1, 2030 (5.1 years remaining). The building, situated on a 17,780 square foot lot at the corner of Sheridan Street and US-1, benefits from excellent visibility and accessibility, being conveniently located 1.2 miles from I-95 and just 4 miles from Fort Lauderdale International Airport and Hollywood Beach. Recent extensive renovations include a new flat roof, AC units, elevator, asphalt parking lot, electrical system, gutters, exterior paint, landscaping, sprinkler system, fence, rolling gates, and tile upgrades in common areas. The property is 100% occupied under a Net Net lease, with real estate taxes representing the primary landlord expense. A full inspection report and environmental report are available. The permitted zoning is SS. This is a turnkey investment ideal for a passive income portfolio. Asking price: $2,860,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,682,910

  6.5%

  $2,476,532

  7%

  $2,299,637

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,216,171

  Geo Method

  $3,216,171

• Alternative Use

  Use

  Valuation

  Residential

  $3,070,900

  Hospitality

  $2,812,928

  Educational

  $2,340,323

  Medical

  $2,420,810

  Retail

  $3,640,502

Location Insight

City

Hollywood

County

Broward

State

Florida

Latitude

26.0333

Longitude

-80.1441

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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