327-329 Johnson St
Hollywood, FL 33019

Marcus & Millichap is pleased to present Hollywood Margaritaville Retail. This is a 2,800 RSF two-tenant retail building located on pedestrian-friendly Johnson Street just steps from Hollywood beach. The property lies directly across from the 349-room Margaritaville Hollywood Beach Resort, which opened in October 2015 and also includes a 600-space parking garage. The subject property is fully occupied by Merengue restaurant & ice cream shop and a bike rental store, both of which are paying below-market rents. Zoning allows for potential construction of additional square footage vertically, providing additional upside potential. Johnson street intersects directly with the Hollywood Beach Boardwalk, a 2.5-mile-long pedestrian promenade fronting the beach and the Atlantic Ocean. There are over 50 restaurants, 30 shops and several parks and resorts in the immediate area, which welcomes more than 3.2 million visitors per year. In addition to private development and investment, the City of Hollywood has also invested heavily into the area, offering the Hollywood Trolley service, Hollywood Beach theater with live music five nights a week, and several additional recent infrastructure improvements. The retail shops and restaurants within this exclusive submarket have virtually no vacancy and have experienced strong rental rate growth in recent years due to increased traffic, the new Margaritaville Resort and many other recent improvements to the area. Hollywood Margaritaville Retail offers the opportunity to acquire a low-management, cash flow retail property located steps from the oceanfront beach and is poised to experience rental rate and value appreciation due to its unique, exclusive location and dense day and night time foot traffic.