Hollywood, Florida, a city located in Broward County within the Miami metropolitan area, offers a unique opportunity to invest in Churches for Sale. With a population of approximately 150,000, Hollywood is an attractive location for businesses and individuals alike. Churches, in particular, can represent a diverse range of investments, from traditional places of worship to community centers, event spaces, and even residential conversions. The characteristics of Churches in Hollywood, such as their proximity to major infrastructure components like Fort Lauderdale-Hollywood International Airport, Broward County Transit bus routes, and Tri-Rail stations, make them an attractive option for investors. Additionally, the city's amenities, including Hollywood Memorial Hospital, Topeekeegee Yugnee Park, and the Art and Culture Center of Hollywood, contribute to its desirability. The city's geography, with its 5 to 6 miles of Atlantic Ocean beach, also makes it an attractive location for businesses and residents. Overall, Hollywood is a great place to invest in a Church, with its strong economy, diverse community, and numerous attractions, including the Seminole Tribe's Okalee Indian Village and the Hollywood Beach boardwalk.
Hollywood is home to 2 Churches for Sale, offering a range of options for investors. The average price per square foot for these properties is $444 USD, with an average size of 6,527 square feet. The largest Church available for sale has a size of 8,636 square feet. In addition to Churches, Hollywood also offers Office Space and Retail Space for Sale, with options ranging from small, boutique offices to large, commercial spaces. The city's economy, driven by industries such as aerospace, electronics manufacturing, and tourism, provides a strong foundation for businesses to thrive. With its numerous amenities, infrastructure, and attractions, Hollywood is an attractive location for investors and businesses alike. Overall, the city offers a unique combination of opportunities, making it an ideal place to invest in a Church or other commercial property.
What are the unique challenges and opportunities in purchasing an empty or abandoned church in Hollywood?
Purchasing an empty or abandoned church in Hollywood can come with unique challenges, such as potential structural issues, outdated electrical and plumbing systems, and the need for significant renovations to bring the property up to code, which can be costly and time-consuming. However, these properties can also offer opportunities for creative redevelopment, such as converting the space into a unique residential or commercial property, taking advantage of the existing character and charm of the building, and potentially benefiting from historic preservation tax incentives or other government programs.
What are the key considerations when converting a church into residential property in Hollywood?
When converting a church into residential property in Hollywood, there are several key considerations to keep in mind, including:
- Zoning and land-use regulations, which may impact the feasibility of the conversion and require special permits or variances;
- The unique architectural features and historical significance of the church, which may need to be preserved or incorporated into the residential design;
- The potential for environmental hazards, such as asbestos or lead paint, which may require remediation before the property can be safely occupied as a residence.
Currently, there are 2 available listings of churches for sale in Hollywood, with an average price per square foot of $444 USD and an average size of 6,527 square feet. The largest available listing is 8,636 square feet, offering ample space for a residential conversion. Additionally, the average cap rate for these listings is , providing a potential return on investment for developers and investors.
What types of investors are typically interested in church properties in Hollywood?
Investors interested in church properties in Hollywood typically include private developers, real estate investment trusts (REITs), and religious organizations seeking to expand or relocate their operations. These investors are often drawn to the city's strong economy, growing population, and prime location, which offers easy access to major transportation hubs, including Fort Lauderdale-Hollywood International Airport and Tri-Rail stations.
