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MLS # :A12022628 |
Price :$8,499,000 |
Status :
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Listing Date :May 18, 2026 |
Square Footage :Not Available |
County :Miami-Dade County |
Square Footage :Not Available |
Year Built :1963 |
Taxes :$80,916 Per Year |
Waterfront :No |
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Remarks :A fully operational 25-unit hospitality compound, 12 hotel keys (apartment size) + 13 residences, generating $1M+ in gross annual revenue with a 5.13% cap rate and $436,287 current NOI. Three renovated two-story towers on a 16,950 SF lot, three blocks from the Atlantic Ocean and one block from Collins Ave. Every unit is designer-finished with quartz countertops, rainfall showers, smart entry, and full kitchens. Amenities include a resort-style pool deck, fitness center, game room, kids' lounge, and tropical grounds, rare for North Beach at this price point. The numbers speak clearly: 50% LTV financing, $113,970 annual cash flow after debt service, a projected 10.79% levered IRR, 2.57x equity multiple, and $7M+ in profit over a 10-year hold. Four exit strategies — redevelop, rebrand, hold, or resell — with no capital restructuring required. Miami Beach's stringent STR licensing creates a structural moat that new entrants cannot easily replicate. Prime location. Proven revenue. Real optionality. This is the kind of asset North Beach simply doesn't offer twice. |
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Call: 305-998-9922
Sunny Realty
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