509 N Federal Highway
ARE Solutions and Bridge Property Advisors have been retained to market for sale 509 N Federal Highway and 1711 Fillmore St in Hollywood, Florida. The two properties currently consist of an operating hotel and two fully-occupied, multi-family rental properties. The properties can be purchased individually or combined. The combined lots make up the entire block located on the east side of N Federal Highway between Fillmore Street and the access road, having a total footprint of approximately 62,669 square feet and offer approximately 188,007 buildable square feet for potential re-development.
509 N Federal Highway is an operational 60-key hotel with a large pool, common space and on-site parking. There is ample space to build a restaurant and bar on-site and owner has a full liquor license they will consider renting or selling. The property was built in 1962 and renovated in recent years. There is a current short-term franchise agreement in place with Choice Hotels, providing guests quality service and amenities during their stay. The hotel is situated on a 47,025 square foot lot and consists of five buildings. One of the buildings caters to extended-stay guests with rooms specially designed to accommodate longer-term stays. This unique feature adds versatility and appeals to a wide range of guests. The property is zoned FH-2 with a floor area ratio (“FAR”) of 3, offering the potential for future expansion and redevelopment. The maximum buildable square footage on this site is approximately 141,075.
1711 Fillmore Street is comprised of two multi-family buildings – a 4,439 square foot, 2-story building and a 3,368 single story building – with a total of 9 units. Situated on a 15,500 square foot lot, this proeprty is also zoned FH-2 with a FAR of 3 offering approximately 46,932 buildable square feet for a future mixed-use or commercial development. The property’s current configuration and occupancy make it an attractive investment opportunity for those seeking an income-generating multi-family property.
This offering presents a prime opportunity for a developer to re-develop the entire site and build a large-scale mixed-use, commercial or hotel building next to Downtown Hollywood that is across the street from the Hollywood Beach Golf Club and minutes away from the Fort Lauderdale-Hollywood International Airport.