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Office Vacant-User

1720 Harrison

1720 Harrison St, Hollywood, FL 33020

Listing Price: $4,900,000

Cap Rate
8.67%
Rentable SF
36,969
Lot Size
0.47 acres
Year Built
1961

Investment Overview

Marcus & Millichap is proud to present for sale 36,969 square feet of commercial space situated in 1720 Harrison Street Hollywood, Florida a 19-Story 147,877 square foot condominium tower. The subject comprises of four condominium units 1A (6,604 Square Feet), 2A (8,996 Square Feet), 3A (10,683 Square Feet), 4A (10,683 Square Feet), starting at the ground floor and was leased to a former charter school. The subject has no parking, but the City of Hollywood waived the parking requirements for charter schools utilizing all four floors and office/retail utilizing the first and second floors. There are approximately a dozen public parking garages within walking distance to 1720 Harrison Street as this property falls within the entertainment and shopping district of the City of Hollywood. According to the appraisal report the highest and best use for the subject would be a charter school do to the non-conforming use of the subject and the previous approval by the City of Hollywood as such use is legally permissible. That being stated the current zoning; PD-Planned Development zoning, allows for office and retail. The subject is approximately a mile and a half east and west between Interstate 95 and the Atlantic Ocean and approximately four and a half miles east of the Florida Turnpike. Hollywood is a business-friendly destination situated between Fort Lauderdale and Miami, and a hub for international trade, Hollywood is adjacent to the Fort Lauderdale-Hollywood International Airport and within a 30 minute drive to Miami International Airport and Palm Beach International Airport. Neighboring Executive Airports such as Opa-Locka, Fort Lauderdale and Boca Raton are just a short drive away and Naples Executive and the Southwest Florida International Airport are little more than 100 miles away. BTI Partners purchased the Young Circle Shopping Center and the Bread Building which is planned for a mixed-use development offering retail, restaurants, office space and a residential project. The shopping center was purchased for $15.75M and recently closed January 24, 2021 and the Bread Building was purchased for $11M; which will be a 25-story 433 luxury apartment tower.

Investment Highlights

  • • The subject has approximately 150 feet of Frontage on Harrison Street and Young Circle.
  • • Subject represents 25% of the overall condominium complex – The largest occupant in the building.
  • • Tremendous Value Add Opportunity

Exclusively Listed By

Financing By

Listing Price: $4,900,000

Cap Rate
8.67%
Rentable SF
36,969
Lot Size
0.47 acres
Year Built
1961

Investment Highlights

  • • The subject has approximately 150 feet of Frontage on Harrison Street and Young Circle.
  • • Subject represents 25% of the overall condominium complex – The largest occupant in the building.
  • • Tremendous Value Add Opportunity

Investment Overview

Marcus & Millichap is proud to present for sale 36,969 square feet of commercial space situated in 1720 Harrison Street Hollywood, Florida a 19-Story 147,877 square foot condominium tower. The subject comprises of four condominium units 1A (6,604 Square Feet), 2A (8,996 Square Feet), 3A (10,683 Square Feet), 4A (10,683 Square Feet), starting at the ground floor and was leased to a former charter school. The subject has no parking, but the City of Hollywood waived the parking requirements for charter schools utilizing all four floors and office/retail utilizing the first and second floors. There are approximately a dozen public parking garages within walking distance to 1720 Harrison Street as this property falls within the entertainment and shopping district of the City of Hollywood. According to the appraisal report the highest and best use for the subject would be a charter school do to the non-conforming use of the subject and the previous approval by the City of Hollywood as such use is legally permissible. That being stated the current zoning; PD-Planned Development zoning, allows for office and retail. The subject is approximately a mile and a half east and west between Interstate 95 and the Atlantic Ocean and approximately four and a half miles east of the Florida Turnpike. Hollywood is a business-friendly destination situated between Fort Lauderdale and Miami, and a hub for international trade, Hollywood is adjacent to the Fort Lauderdale-Hollywood International Airport and within a 30 minute drive to Miami International Airport and Palm Beach International Airport. Neighboring Executive Airports such as Opa-Locka, Fort Lauderdale and Boca Raton are just a short drive away and Naples Executive and the Southwest Florida International Airport are little more than 100 miles away. BTI Partners purchased the Young Circle Shopping Center and the Bread Building which is planned for a mixed-use development offering retail, restaurants, office space and a residential project. The shopping center was purchased for $15.75M and recently closed January 24, 2021 and the Bread Building was purchased for $11M; which will be a 25-story 433 luxury apartment tower.

Exclusively Listed By

Financing By

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