2126 Tyler StHollywood, FL 33020

Property Details for 2126 Tyler St

Year built

1959

Construction

CONCRETE

Lot size

0.08 AC

Property size (Sq ft)

3,000 SF

Zone code

DH-3

Property type

Retail space

APN

51-42-16-01-0442

APU

514216010442

Description

This exceptional value-add opportunity presents a 3,000 square foot, multi-tenant retail building located at 2126 Tyler St, Hollywood, FL 33020. The property, built in 1960, boasts four units currently operating at 100% occupancy with a gross lease structure. The current Net Operating Income (NOI) is $39,851, yielding a 4.09% cap rate. However, a pro-forma analysis projects a significant increase in NOI to $72,000, resulting in a compelling 7.38% pro-forma cap rate. This Class B building sits on a single story and is zoned DH-3. The asking price is $975,000, translating to $325 per square foot. The property benefits from its prime location, offering abundant free city parking and proximity to the Hollywood Entertainment District, I-95 (5 minutes), the Hard Rock Casino (15 minutes), and the Hollywood Beach Boardwalk (10 minutes). The current tenants have no credit rating. Short-term leases are in place, presenting a unique opportunity for an investor to increase rental income and enhance the property's overall value. This is an ideal investment for those seeking a value-add project with strong potential for significant returns. The property's APN is 5142 16 01 0442.

• CAP approach

  CAP return

  Valuation

  6%

  $1,577,761

  6.5%

  $1,456,395

  7%

  $1,352,367

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,242,333

  Geo Method

  $3,242,333

• Alternative Use

  Use

  Valuation

  Residential

  $1,228,524

  Hospitality

  $1,125,321

  Educational

  $936,254

  Medical

  $968,453

  Retail

  $1,456,395

Location Insight

City

Hollywood

County

Broward

State

Florida

Latitude

26.0122

Longitude

-80.1502

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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