- For sale
Colliers, as exclusive listing broker, is pleased to present the opportunity to acquire the 1201 N 21 Avenue Development Site, a centrally located covered-land development opportunity in Hollywood, FL. The property consists of one parcel totaling 74,576 square feet (1.71 acres) with an existing 9,150 square foot commercial building located at 1201 North 21st Avenue, Hollywood FL. The offering represents a highly sought after income producing asset in an East Hollywood location with the potential to redevelop the site into a ground-up multifamily project in the future.
The site is located one block east of Dixie Highway, 2 blocks west of Federal Highway and just one mile north of Young Circle Park, Downtown Hollywood’s central point of interest with most of the area’s luxury housing, dining, shopping and entertainment. The subject property has convenient access to both the north and south bound arteries of Hollywood / Broward county as well as to the east and west bound streets providing easy access to areas like Hollywood Beach, Downtown Fort Lauderdale and Aventura. Hollywood has become one of South Florida’s fastest growing submarkets with an increase in population and development. The 1201 N 21 Ave site is positioned right in the heart of this growth giving investors the opportunity to make a sound investment.
The property is currently zoned DH-3 – Dixie Highway High Intensity Mixed-Use District, which is one of Hollywood’s most open zoning districts. The district allows for the development of a variety of uses including residential, office, hotel, self-storage and commercial projects with an FAR of 3.0. The site allows for the development of 223,728 square feet of FAR and maximum buildable height of 10 stories. Current ownership has developed a preliminary massing study of 200 units.