Sorrento Villas Hotel, Miami Beach, FL

$8,000,000
For sale SOLD \ Out of Market

2797

Property ID

10,299 SqFt

Size

Description

We are Pleased to present the 21-room Sorrento Villas Hotel, located in Miami Beach, Fl, two blocks west of N. Beach and a few blocks away from the future re-development of North Beach Town Center.

The Sorrento Villas is currently operating below competitive set ADR and Occupancy.

The Hotel will be offered unencumbered by management, allowing a new operator to employ more aggressive sales, marketing, and revenue management techniques.

Location of zoning change is between Indian Creek Dr, Dickens Ave., 72nd St., Collins Ave., and 69th St.

• Developer plans to build two 220-ft-tall buildings at 71st St. and Abbot Ave. that will be geared toward recent college graduates.
• The zoning also allows to build small hotel rooms and apartment units in order to encourage market-rate affordable units.

HIGHLIGHTS

  • Number Of Buildings: 1
  • Flooring: Ceramic Floor
  • Construction Materials: CBS Construction
  • Parking Features: Common
  • Security Features: Smoke Alarm, Fire Sprinkler System
  • Buyer Agency Compensation: 2.5%
  • Ownership: Corporation

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Address

Address: 7510 Harding Ave, Miami Beach, FL
  • Country: United States
  • Province / State: Florida
  • City / Town: Miami
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  • Property ID 2797
  • Price $8,000,000
  • Property Type Hotel
  • Property status For sale, SOLD \ Out of Market
  • Rooms 21
  • Year Built 1952
  • Size 10,299 SqFt
  • Parking 4
  • Keys 3
  • Floors 2

Contact

Zena Bardawell Farah

Property Agent
+1 305-967-7200
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