538 MERIDIAN AVE, Miami Beach
$12,500,000 USD
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| Address | 538 MERIDIAN AVE, Miami Beach |
| Type of Property | Hotel / Motel |
| Type of Business | Hotel / Motel, Retail Space |
| Property Style | Hotel Non-Waterfront |
| Price | $12,500,000 |
| Property Status | Active |
| MLS Number | A11816587 |
| Property Size | 7000 |
| Lot Size | 7000 |
| Year Built | 2019 |
| Folio Number | 02-42-03-009-4930 |
| Zoning Information | 6503 |
| Days on Market | 101 |
Detailed Description: 12 Units, 2 BD, 16 BA, 24 Beds, 18,301 sq.ft. Located in the heart of South Beach, walk to Collins Ave. Shopping District and Ocean Drive. Blocks away from Lincoln Road Mall, and Miami Beach Convention Center. The property is situated 5 miles northeast of Downtown Miami and 10 miles east of Miami Int’l Airport. Property is leased to a hospitality group and its a boutique hotel. This is a smoke-free building with a parking garage. The units have a full-size kitchen with a refrigerator, dishwasher, oven with stovetop, microwave and washer and dryers. Units are fully furnished with modern furnishings throughout and beautifully decorated. Licensed for short term rentals. Cap Rate 5% (based on seller’s master lease income with tenant, not hospitality’s income).
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Address Information
| State | Florida |
| City | Miami Beach |
| County | Miami-Dade County |
| Zip Code | 33139 |
| Address | 538 MERIDIAN AVE |
| Zip Code (4 Digits) | 6428 |
Financial Information
| Price | $12,500,000 |
| Price per Foot | $0 |
| Folio Number | 02-42-03-009-4930 |
| Tax Amount | $79,555 |
Full Descriptions
| Detailed Description | 12 Units, 2 BD, 16 BA, 24 Beds, 18,301 sq.ft. Located in the heart of South Beach, walk to Collins Ave. Shopping District and Ocean Drive. Blocks away from Lincoln Road Mall, and Miami Beach Convention Center. The property is situated 5 miles northeast of Downtown Miami and 10 miles east of Miami Int’l Airport. Property is leased to a hospitality group and its a boutique hotel. This is a smoke-free building with a parking garage. The units have a full-size kitchen with a refrigerator, dishwasher, oven with stovetop, microwave and washer and dryers. Units are fully furnished with modern furnishings throughout and beautifully decorated. Licensed for short term rentals. Cap Rate 5% (based on seller’s master lease income with tenant, not hospitality’s income). |
| Floor Description | Carpet, Ceramic Floor |
| Parking Description | Covered, Garage, Guest, Loading Spaces, No Truck / Trailer |
Property parameters
| Living Area | 7000 |
| Lot Size | 7000 |
| Total Acreage | 0.000 |
| Zoning Information | 6503 |
| Maximum Leasable Size | 7000 |
| Year Built | 2019 |
| Type of Property | Hotel / Motel |
| Type of Business | Hotel / Motel, Retail Space |
| Style | Hotel Non-Waterfront |
| Construction Type | CBS Construction |
| Listed with | Pulse Int’l Realty FL Inc |