2235 Polk Street

Description

REDEVELOPMENT OPPORTUNITY WITH OWNER FINANCING | 20,515 SF, two parcel assemblage containing a 3plex and a single-family home. It is estimated that the sites highest and best use is a 45 residential development in close proximity to the urban redevelopment core of downtown Hollywood. 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... Read more the major employment centers of Fort Lauderdale and Miami. Today, that dynamic is changing rapidly. REDEVELOPMENT OPPORTUNITY WITH OWNER FINANCING | 20,515 SF, two parcel assemblage containing a 3plex and a single-family home. It is estimated that the sites highest and best use is a 45 residential development in close proximity to the urban redevelopment core of downtown Hollywood. For qualified purchasers, the seller will consider providing a purchase money mortgage with a below market interest rate with a 40% down payment. Hollywoods Urban Renaissance: Why the Downtown Core Is Emerging as One of Broward Countys 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 Floridas 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 citys urban core. The subject property provides a $102,600 gross income and a $40,203 NOI. Positioned in the Path of South Browards Urban Renaissance Downtown Hollywood has emerged as one of South Floridas 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 todays 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 Hallandales urban core, the redevelopment momentum between Downtown Hollywood and Aventura is creating a continuous South Broward growth corridor.