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31157178
31157179

6140 Hollywood Blvd, Hollywood, FL 33024

MA
FL FL: SL3426196
Marcus & Millichap
JD
FL SL3639184
Marcus & Millichap
Listed by Marcus & Millichap
$2,000,000
77 days on market
Updated 76 days ago

Hollywood Retail Strip

Details
APN 51-41-13-18-0140
Property Type Retail
Sub Type Storefront
Square Footage 6,400
Net Rentable (SqFt) 6,400
Units 3
Cap Rate 2.52%
NOI $50,395
Occupancy 75%
Tenancy Multi
Pro-Forma Cap Rate 7.87%
Pro-Forma NOI $157,375
Price per SqFt $313
Year Built 1970
Lot Size (SqFt) 14,730
Zoning S-MU
Investment Type Value Add
Tenant Credit No Credit Rating
Ownership Fee Simple

Retail | 6,400 SqFt

Marketing description

Marcus & Millichap is pleased to present 6140–6144 Hollywood Boulevard in Hollywood, Florida, a ±6,400 SF retail property offering exceptional value-add potential.

The building is comprised of three retail bays ranging from approximately 1,600 to 3,200 SF, including one contiguous 3,200 SF unit that can be subdivided to maximize leasing opportunities. Current tenants occupy two month-to-month and one short-term leases at below-market rents averaging $19-20 PSF gross, presenting a clear opportunity for an investor to increase income by adjusting rents toward market levels of $25–$30 PSF net.

Constructed with a Twin-T concrete roof replaced in 2011, the property is separately metered with three electric meters and two water meters. Its layout is well-suited for local service and retail tenants, providing both ease of leasing and re-tenanting flexibility.

Strategically located along Hollywood Boulevard with approximately 51,000 vehicles per day and enhanced by two pylon signs, the property offers outstanding visibility and accessibility. Zoned S-MU (South Mixed Use District) within the Transit Oriented Corridor, the site allows for development of up to 50 dwelling units with a maximum height of 175 feet. A bus stop directly in front of the property adds convenient transit access.

The property is ideally positioned just off Florida Turnpike (SR 91) Northbound at Exit 49, providing direct access to Hollywood Boulevard /Pines Boulevard, with seamless northbound routes to Orlando and southbound routes to Miami. It is located 0.23 miles from future Memorial Regional Hospital $670 million Expansion, 3.3 miles from Seminole Hard Rock Hotel & Casino, 4.3 miles from the shops and restaurants of Downtown Hollywood Boulevard, and 4.9 miles from Hard Rock Stadium, benefiting from strong local traffic and continued economic activity in the surrounding area.

Investment highlights

  • Value-Add Opportunity - All tenants occupy month-to-month or short-term leases at well below-market rents
    (~$19-20/SF Gross), offering significant upside to increase income by adjusting rents toward current market rates, $25–$30/SF Net.

  • Strong Traffic Exposure - Situated along Hollywood Blvd with approximately 51,000 vehicles per day and two pylon signs, the property provides excellent visibility and accessibility.

  • Flexible Configuration - The +/- 6,400 SF building is divided into three retail units ranging from 1,600 to 3,200 SF, including one contiguous 3,200 SF space that can be subdivided, providing leasing flexibility ideal for local service and retail tenants.

  • Prime Location & Transit Access - Positioned just off Florida Turnpike (SR 91) Northbound at Exit 49 for convenient northbound access to Orlando and southbound access to Miami. The property is within the Transit Oriented Corridor, with a bus stop directly in front, and is located 0.23 miles from future Memorial Regional Hospital $670 million Expansion, 3.3 miles from Seminole Hard Rock Hotel & Casino, and 4.3 miles from Downtown Hollywood Boulevard shops and restaurants.

  • Financing - Owner financing may be available. Please consult the listing agent for further details.

  • Construction - Constructed with a Twin-T concrete roof replaced in 2011, the property is separately metered with three electric meters and two water meters.

Listing Contacts

MA
FL FL: SL3426196
Marcus & Millichap
JD
FL SL3639184
Marcus & Millichap
Listed by Marcus & Millichap

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$50,395.00
$4,199.58/mo

Valuation Metrics

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DSCR
2.52%
Cap Rate
2.52%
ROI

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Additional Information

Name
Ryan Nee
License
FL 3154667
Title
Broker of Record
Name
Matthew Albregts
License
FL: SL3426196
Brokerage Phone
786-522-7089
Brokerage Address
2916 North Miami Avenue
Name
Jonathan De La Rosa
License
SL3639184
Brokerage
Marcus & Millichap
Brokerage Phone
7865227122
Title
Associate Investments
Brokerage Address
2916 North Miami Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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