Hollywood Beach Land Development Opportunity
Closed901 South Ocean Drive, Hollywood, FL 33019
Property type
Land
Price
$15,500,000
Building size
Year built
Year renovated
Occupancy
APN
5142 13 01 3760
Zoning code
Lot size
1.91 Acres
Property description
Franklin Street is pleased to present Hollywood Beach Land Development Opportunity, which is located in the heart of Hollywood Beach, Florida. The development site is an 83,279 SF (1.91-acre) vacant parcel of land in the medium-high residential zone of the Multifamily District in the City of Hollywood, Fl offering the ability to build 48 two and three story luxury homes as of right. Other options include building a 15-story building (includes townhomes) subject to a developer receiving a variance from the city although other projects could be presented as well. The site is surrounded by the best commercial and gastronomic areas, two important nature reserves and wildlife sanctuaries, and popular sparkling clean beaches. The property is just minutes away from The Diplomat Hotel, one of South Florida's largest hotels, and also Margaritaville, a hotel and resort. The City of Hollywood has also recently approved major development projects within the last 2 years including Related's new development at Hollywood Beach Culture and Community Center where they will build a 26- Story, 135 unit condo. In 2019, City of Hollywood had $1.52 billion in development that was planned, under construction, and completed.
Property highlights
- Franklin Street exclusively represented the seller in this transaction
- Generated multiple competitive offers throughout the marketing period
- Sold within a 3.2% of the asking price
- Rare opportunity to acquire one of the last beaches and intercoastal facing land pieces available in South Florida (US-1 Corridor) Excellent views of the intercoastal and ocean.
- Steps away from the beautiful Hollywood Beaches centrally located between Fort Lauderdale and Miami International Airport
- Ability to build up to 48 two- and three-story luxury homes as of right per current zoning