USD $ 4,500,000
€ 4,018,575 | £ 3,435,881
Size: Floor: 23497 (sq ft)
New Build - Key Ready
, Date Built: 1957
Advert last updated: 7/6/2013
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MIAMI BEACH waterfront Hotel/Motel Biscyane Blvd
FINANCING AVAILABLE: $2.59M Assumable Loan, 7.25% Interest, 15 years left on a 20 Year AMO. Seller may consider financing with a wrap loan instrument.
MOTEL $ 4,500,000
boutique hotel 62 rooms
12 new in 2011
4cops liquor license(package and tobacco)
waterfront red light 90 seats(leased $4250/month )
large pool with tokki bar and sun terrace
potential bar with 5M liquor license
building area est 23,497sf
lot 33,493 sft,Est 150ft frontage
MIMO historic district
access to I-95,Dowtown Beaches
assumable Loan $2.75M,20 yaer AMO
Building Size:23,500 SF
Property Type:Hotel & Motel
Property Sub-type:Economy/ Limited Service
Property Use Type:Investment
Average Daily Rate:$52
Lot Size:33,493 SF
APN / Parcel ID:400230
26 Kings, 32 Doubles, 4 Suites, One Large Suite (currently office, perfect for Executive Center
HUGE Pool with beautiful outdoor terrace - Come and SOAK UP THE SUN!
37 On-Site Parking Spaces, Valet available for restaurant
Hotel operates with very high occupancy during season (December-April)
Guest Profile includes Foreign Tourist, Economy Travelers, and Contractors for local projects
In-hoiuse Laundry, Security Guard, 24-Hour Front Desk
Boutique Hotel with 62 Rooms, Pool, 90 Seat Restaurant, Lounge, 4COPS Liquor License (5 AM), located on US1 in Miami's Upper Eastsiede - trendy restaurants, popular eateries, cool shops... recalls South Beach in the early days.
GREAT LOCATION... minutes to Midtown Miami, Design District, Miami Beach, Arts District, and Downtown Miami.
All rooms renovated with the last five years, 58 rooms currently in service and reflected in 2012 revenues. FF&E investment will yield higher ADRs as well as additional marketing and branding.
Currently, the restaurant is vacant with new operator in negotiatiions. Breakfact, Lunch, and Dinner service will be introduced as well as total renovation of the restaurant, waterfront seating area, and Lounge. Expected lease revenue will be approx. $6000 N per month with increases.
This property offers tremendous investment potential for both value and income. Man new retail projects and investents in these classic hotels on Miami's Biscayne Boulevard... come and see the growth NOW!
PLEASE DO NOT GO TO PROPERTY WITHOUT AN APPOINTMENT.
Confidentiality Agreements attached for financials.