Redevelopment Site - Hill Motel

Strategically located in Hollywood, FL, The Hill Motel offers a solid investment opportunity spread across two parcels totaling .62 acres. Constructed in 1965, the property features 26short-term rental rooms, 4 apartment units, and a storage unit, providing a steady revenue stream. Positioned approximately ±700 feet from the bustling Young Circle in DowntownHollywood, residents enjoy easy access to the area's ArtsPark Amphitheater. The CommunityRedevelopment Agency's commitment to enhancing Young Circle, coupled with substantial streetscape investments, underscores the neighborhood's urban growth. Downtown Hollywood is witnessing significant revitalization, with over $1.5 billion allocated to ongoing and planned projects, including thousands of new residential units. Accessibility is a key feature, with Federal Hwy seeing heavy traffic and Young Circle serving as a junction for multiple highways. Zoned FH-2, the property allows for development up to 18 stories/190 feet, offering potential for both single-use and mixed-use configurations with impressive floor area ratios. Situated within the Community Redevelopment Agency (CRA) and designated as anOpportunity Zone, The Hill Motel benefits from incentives for increased density and tax advantages. Nearby developments such as 1818 Park, Nine Hollywood, and the upcoming BreadBuilding and B57 North and South highlight the area's growth potential. As Hollywood's urban landscape evolves, The Hill Motel presents a robust redevelopment opportunity with the ability to collect immediate revenue for those seeking healthy returns in a dynamic real estate market.Prime Redevelopment play in bustling Hollywood, FL. ±700 ft from Young Circle, this .62 acre piece (2 parcels) affords significant development opportunity. Zoned FH-2, this allows a maximum height of 18 stories/190 ft., a Single-Use FAR of 3.75 (±101,277sf structure) and Mixed-Use FAR of 4.75 (±128,284sf structure). With an operating Boutique Motel, this provides a Buyer with the opportunity to collect immediate revenue while navigating the permitting process for redevelopment. The subject property is situated within the path of revitalization for Hollywood, FL with $1.5B in current/approved projects and $14M earmarked by the CRA for streetscape improvements. The site offers increased density being located within the CRA District and favorable tax incentives sitting within an Opportunity Zone. Nearby major Mixed-Use developments include Nine Hollywood, 1818 Park, the Bread Building, B57 North and South, Hudson Circle, Soleste Hollywood Village and many more.