Shopping Strip

Boston Johnny's Bar & Grill

2120 N Dixie Hwy, Hollywood, FL 33020

Listing Price: $850,000

Cap Rate
5.57%
Gross SF
3,265
Rentable SF
3,265
Price/Gross SF
$260.34
Lot Size
0.16 acres
Year Built
1958

Investment Overview

Marcus & Millichap is pleased to exclusively present 2120 North Dixie Highway in Hollywood, Florida. The assets consist of 3,265 gross leasable square-feet on a 7,090 square-foot lot with an additional 2,000 square-foot unenclosed outdoor tiki bar in the rear of the building. The building is currently occupied by a long-term tenant Boston Johnny's, a food and beverage retailer, with a successful track record and strong local following. The outdoor tiki bar is occupied by Someplace Else Tiki Bar and is open nightly for guests and rented out for bigger parties. The tenant will be negotiating a five-year modified gross sale-leaseback at close of escrow. The building was completely gutted and renovated in 2007 and cosmetic work, flooring, paining, and additional upgrades have been completed in 2020. The location was recently rezoned to Hollywood's high-density DH-3 zoning allowing for a variety of uses and development up to ten stories. The offering is a great opportunity for an investor looking for stable cash flow with the potential for future redevelopment.

2120 North Dixie Highway is located on the corner of North Dixie Highway and Liberty Street, just south of Sheridan Street with a traffic count of 44,500 vehicles per day and is easily accessed from i-95. Hollywood Florida is a beachfront city in Southeast Broward County conveniently located between Fort Lauderdale and Miami. Hollywood is the third -argest city in Broward County and is home to over 143,000 residents, eighty percent of Port Everglades, and more than 10,000 companies. Hollywood has experienced an influx of new development over the past ten years. Currently, there is over $145 billion in real estate development planned, approved, and under construction throughout the city. Approximately 296,500 people live withing a five-mile radius of the subject property and surrounding national retailers include Publix, Starbucks, Burger King, Chase, and Starbucks.

Investment Highlights

  • New Five-Year Lease will Be Negotiated at Close of Escrow
  • Second Generation Bar with Outdoor Patio and Strong Following
  • Completely Renovated in 2007 with Additional Upgrades in 2020
  • High Density Zoning Allowing for Future Redevelopment
  • Population of Over 296,500 Within a Five Mile Radius

Exclusively Listed By

Shopping Strip

Boston Johnny's Bar & Grill

Listing Price: $850,000

Cap Rate
5.57%
Gross SF
3,265
Rentable SF
3,265
Price/Gross SF
$260.34
Lot Size
0.16 acres
Year Built
1958

Investment Highlights

  • New Five-Year Lease will Be Negotiated at Close of Escrow
  • Second Generation Bar with Outdoor Patio and Strong Following
  • Completely Renovated in 2007 with Additional Upgrades in 2020
  • High Density Zoning Allowing for Future Redevelopment
  • Population of Over 296,500 Within a Five Mile Radius

Investment Overview

Marcus & Millichap is pleased to exclusively present 2120 North Dixie Highway in Hollywood, Florida. The assets consist of 3,265 gross leasable square-feet on a 7,090 square-foot lot with an additional 2,000 square-foot unenclosed outdoor tiki bar in the rear of the building. The building is currently occupied by a long-term tenant Boston Johnny's, a food and beverage retailer, with a successful track record and strong local following. The outdoor tiki bar is occupied by Someplace Else Tiki Bar and is open nightly for guests and rented out for bigger parties. The tenant will be negotiating a five-year modified gross sale-leaseback at close of escrow. The building was completely gutted and renovated in 2007 and cosmetic work, flooring, paining, and additional upgrades have been completed in 2020. The location was recently rezoned to Hollywood's high-density DH-3 zoning allowing for a variety of uses and development up to ten stories. The offering is a great opportunity for an investor looking for stable cash flow with the potential for future redevelopment.

2120 North Dixie Highway is located on the corner of North Dixie Highway and Liberty Street, just south of Sheridan Street with a traffic count of 44,500 vehicles per day and is easily accessed from i-95. Hollywood Florida is a beachfront city in Southeast Broward County conveniently located between Fort Lauderdale and Miami. Hollywood is the third -argest city in Broward County and is home to over 143,000 residents, eighty percent of Port Everglades, and more than 10,000 companies. Hollywood has experienced an influx of new development over the past ten years. Currently, there is over $145 billion in real estate development planned, approved, and under construction throughout the city. Approximately 296,500 people live withing a five-mile radius of the subject property and surrounding national retailers include Publix, Starbucks, Burger King, Chase, and Starbucks.

Exclusively Listed By

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