Your email has been sent.
2247 Polk St - 3 Contiguous Lots | .92 Acres 40,200 Acres of Residential Land Offered at $3,600,000 in Hollywood, FL 33020
Investment Highlights
- A unique combination of favorable zoning, strong rental demand, and attractive land value
- East Hollywood has become one of South Florida's most active urban infill redevelopment markets
- Covered Land Play | 3 Contiguous Lots | 40,200 SF | Build +/- 90 Units
- In-Place Income | PGI - $321,276 | NOI - $171,328
Executive Summary
For qualified purchasers, the seller will consider providing a purchase money mortgage with a below market interest rate with a 40% down payment.
Hollywood's Urban Renaissance: Why the Downtown Core Is Emerging as One of Broward County's Most Compelling Redevelopment Stories
For decades, Downtown Hollywood was overshadowed by Hollywood Beach to the east and the major employment centers of Fort Lauderdale and Miami. Today, that dynamic is changing rapidly. The city has quietly become one of South Florida's most active urban infill redevelopment markets, driven by public infrastructure investment, transit accessibility, favorable zoning, and a growing pipeline of mixed-use and multifamily projects. More than 3,500 residential units have been approved or are under construction in and around Downtown Hollywood and its major corridors, creating a critical mass that is reshaping the city's urban core.
The subject property provides a $321,276 gross income and a $180,655 NOI.
Positioned in the Path of South Broward's Urban Renaissance
Downtown Hollywood has emerged as one of South Florida's most compelling redevelopment markets, offering a unique combination of favorable zoning, strong rental demand, and land values that remain attractive relative to more mature urban cores such as Brickell, Wynwood, Downtown Fort Lauderdale, and Flagler Village.
Driven by a growing population of young professionals, healthcare workers, hospitality employees, airport-related businesses, and Miami commuters seeking affordability, the area continues to experience sustained multifamily demand. Combined with the walkability of Young Circle, ArtsPark, downtown dining and entertainment, and proximity to Hollywood Beach, the district offers the lifestyle amenities increasingly sought by today's renters.
Equally significant is the ongoing transformation occurring immediately south along the Federal Highway corridor in Hallandale Beach. As new mixed-use, multifamily, hospitality, and commercial developments continue to reshape Hallandale's urban core, the redevelopment momentum between Downtown Hollywood and Aventura is creating a continuous South Broward growth corridor.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Taxes | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
| Price | $3,600,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| Sale Condition | Redevelopment Project | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 40,200.00 AC |
| Zoning | DH-2 - DH-2 | ||
| Price | $3,600,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 40,200.00 AC |
| Zoning | DH-2 - DH-2 |
1 Lot Available
Lot 3
| Price | $3,600,000 | Lot Size | 40,200.00 AC |
| Price Per AC | $89.55 |
| Price | $3,600,000 |
| Price Per AC | $89.55 |
| Lot Size | 40,200.00 AC |
Description
The Foundation of the Renaissance Several factors are converging simultaneously: 1. Downtown Hollywood Has Reached Critical Mass The Young Circle district has evolved from a collection of low-rise commercial buildings into a walkable urban environment featuring restaurants, entertainment venues, multifamily housing, and creative office users. The city's redevelopment plans have focused on creating a true downtown destination rather than a suburban commercial corridor. 2. Major Public Infrastructure Investments The Hollywood CRA continues to invest heavily in streetscape improvements, underground utilities, pedestrian enhancements, public art, and resiliency projects. Recent improvements along Hollywood Boulevard and the ongoing Harrison Street and beach corridor projects represent millions of dollars of public investment that support private development. 3. Transit-Oriented Growth Downtown Hollywood sits between Fort Lauderdale and Miami and benefits from direct access to: • I-95 • US-1 • Tri-Rail • Fort Lauderdale-Hollywood International Airport • Future regional transit enhancements This connectivity has become increasingly valuable as South Florida's workforce becomes more regionalized. 4. Development-Friendly Zoning The DH-1, DH-2, and DH-3 districts allow significant density and mixed-use development opportunities. For developers, this translates into higher land values, increased density potential, and the ability to assemble smaller infill parcels into larger urban redevelopment sites.
Presented by
2247 Polk St - 3 Contiguous Lots | .92 Acres
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.