Multi-Family

Madison Flats

1829, 1833, 1847, 1849, 1853, & 1857 Madison Street, Hollywood, FL 33020

Listing Price: $5,000,000

Lot Size
1.19 acres
Price/Acre
$4,201,713
Land Type
Redevelopment
Buildable Square Feet
13,385

Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale Madison Flats, a proposed 125-unit development site and covered land play located within an Opportunity Zone in East Hollywood, Florida.

SUBJECT PROPERTY
Madison Flats is a redevelopment opportunity located at the northeast corner of Madison Street and South 19th Avenue (just west of Federal Highway) in Hollywood, Florida. The property is situated within an Opportunity Zone, offering incoming developers special tax treatment and incentives, as a result of the Tax Cuts and Jobs Act of 2017.

Madison Flats is currently pending final approvals from the City of Hollywood planning board with plans for 125 apartment units (92,648 square feet), one office suite (1,577 square feet), one retail suite (1,059 square feet), 182 parking spaces, a gym and pool deck. The projected unit composition is comprised of (5) live-work lofts, (29) studios, (60) one-bedroom | one-bathroom units and (31) two-bedroom | two-bathroom units. Madison Flats total estimated project size is 227,474 square feet, 115,030 square feet of which will be under air conditioning.

Today, the site consists of 6-contiguous parcels with 15 apartments currently generating gross income of approximately $200,000 annually. The total lot size is approximately 51,817 square feet according to the Broward County Property Appraiser.

LOCATION
Madison Flats is located east of Interstate 95, just west of Federal Highway (US-1), along the north side of Madison Street. The location offers a potential buyer the prospect to purchase in one of Hollywoods Opportunity Zones. Opportunity Zones offer tax benefits to business or individual investors who can elect to temporarily defer tax on capital gains if they timely invest those gain amounts in a Qualified Opportunity Fund (QOF). Investors can defer tax on the invested gain amounts until the date they sell or exchange the QOF investment, or Dec. 31, 2026, whichever is earlier.

The location allows for easy access to Federal Highway (US-1), Hollywood Boulevard, Dixie Highway, and Interstate 95. Madison Flats are also within walking distance of the Hollywood Circle, which offers a variety of shopping, dining, entertainment attractions and employment centers. Nearby points of interest include Arts Park at Young Circle (0.4 miles), Hollywood Circle (0.5 miles), Publix supermarket (0.5 miles), Mardi Gras Casino (1.0 mile), Hollywood Beach Golf Club (1.4 miles), Gulfstream Park Casino and Racetrack (2.1 miles), Hollywood Beach (2.4 miles) and Margaritaville Hollywood Beach Resort (2.6 miles). Nearby educational centers include Hollywood Central Elementary School (0.1 miles), Colbert Elementary School (1.5 miles), McNicol Middle School (1.9 miles) and Hallandale High School (2.3 miles).

SUMMARY
Madison Flats is offered for sale at $5,000,000 or $40,000 per buildable unit.

Investment Highlights

  • Project Details: 125 Units, 182 Parking Spaces, 1 Retail Bay, 1 Office Suite
  • 125 Unit Development Opportunity Pending Final Approvals
  • Covered Land Play with 15 Units Generating (+/-) $200,000 Gross
  • Walking Distance to Young Circle and Numerous Shopping, Dining and Entertainment.
  • 350,725 People and $80,064 Average HH Income within 5 Miles

Exclusively Listed By

Listing Price: $5,000,000

Lot Size
1.19 acres
Price/Acre
$4,201,713
Land Type
Redevelopment
Buildable Square Feet
13,385

Investment Highlights

  • Project Details: 125 Units, 182 Parking Spaces, 1 Retail Bay, 1 Office Suite
  • 125 Unit Development Opportunity Pending Final Approvals
  • Covered Land Play with 15 Units Generating (+/-) $200,000 Gross
  • Walking Distance to Young Circle and Numerous Shopping, Dining and Entertainment.
  • 350,725 People and $80,064 Average HH Income within 5 Miles

Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale Madison Flats, a proposed 125-unit development site and covered land play located within an Opportunity Zone in East Hollywood, Florida.

SUBJECT PROPERTY
Madison Flats is a redevelopment opportunity located at the northeast corner of Madison Street and South 19th Avenue (just west of Federal Highway) in Hollywood, Florida. The property is situated within an Opportunity Zone, offering incoming developers special tax treatment and incentives, as a result of the Tax Cuts and Jobs Act of 2017.

Madison Flats is currently pending final approvals from the City of Hollywood planning board with plans for 125 apartment units (92,648 square feet), one office suite (1,577 square feet), one retail suite (1,059 square feet), 182 parking spaces, a gym and pool deck. The projected unit composition is comprised of (5) live-work lofts, (29) studios, (60) one-bedroom | one-bathroom units and (31) two-bedroom | two-bathroom units. Madison Flats total estimated project size is 227,474 square feet, 115,030 square feet of which will be under air conditioning.

Today, the site consists of 6-contiguous parcels with 15 apartments currently generating gross income of approximately $200,000 annually. The total lot size is approximately 51,817 square feet according to the Broward County Property Appraiser.

LOCATION
Madison Flats is located east of Interstate 95, just west of Federal Highway (US-1), along the north side of Madison Street. The location offers a potential buyer the prospect to purchase in one of Hollywoods Opportunity Zones. Opportunity Zones offer tax benefits to business or individual investors who can elect to temporarily defer tax on capital gains if they timely invest those gain amounts in a Qualified Opportunity Fund (QOF). Investors can defer tax on the invested gain amounts until the date they sell or exchange the QOF investment, or Dec. 31, 2026, whichever is earlier.

The location allows for easy access to Federal Highway (US-1), Hollywood Boulevard, Dixie Highway, and Interstate 95. Madison Flats are also within walking distance of the Hollywood Circle, which offers a variety of shopping, dining, entertainment attractions and employment centers. Nearby points of interest include Arts Park at Young Circle (0.4 miles), Hollywood Circle (0.5 miles), Publix supermarket (0.5 miles), Mardi Gras Casino (1.0 mile), Hollywood Beach Golf Club (1.4 miles), Gulfstream Park Casino and Racetrack (2.1 miles), Hollywood Beach (2.4 miles) and Margaritaville Hollywood Beach Resort (2.6 miles). Nearby educational centers include Hollywood Central Elementary School (0.1 miles), Colbert Elementary School (1.5 miles), McNicol Middle School (1.9 miles) and Hallandale High School (2.3 miles).

SUMMARY
Madison Flats is offered for sale at $5,000,000 or $40,000 per buildable unit.

Exclusively Listed By

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