South Beach, Hotel For Sale
Description
The Beach Plaza Hotel is an independently operated seventy-seven (77) room limited service hotel located in the heart of South Beach on the north east corner of Collins Avenue and 14th Street.
The Beach Plaza Hotel is comprised of three separate structures with a center courtyard.
The main building is the original Murry Dixon designed art deco hotel of 55 rooms built in 1936.
The Villas consist of 22 large guest suits which were two former apartments buildings known as Brigham Gardens, built in 1934.
The property consists of two separate folios with a total of 21,000 SF steps from Ocean Drive and the white sands of Miami Beach.
The property zoning is Mixed Use Entertainment, MXE, allowing for hotel, retail, restaurant, bar & lounge, as well as entertainment.
The zoning entitlements a Floor to Area Ratio (FAR) of 2.0, which allows the operator to build an approximately buildings area of 9,700 SF.
The F&B licenses are leased to an established restaurant group operating as Salt Cafe (4.3 Star Rating).
The F&B operator lease expires at the end 1Q22 and open to negotiations.
The restaurant and bar seating area is in the outdoor areas in the hotel patio and in the courtyard gardens.
The hotel has a current restaurant license 40 Seat and a 4COPS Liquor license (2:00 AM Service).
Address
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Address 1401 Collins Ave, Miami Beach, FL 33139
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Country United States
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Province/State Florida
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City/Town Miami
Overview
- Property ID 3498
- Price $26,000,000
- Property Type Hotel
- Property status For sale
- Year Built 1934-1936
- Size 32,330 SqFt
- Zoning MXE
- Lot Area 21,000(sq ft)
- Price Per Sqft $804.21
- Investment Type Owner/User
- Investment Sub Type Income
- Occupancy 91.95%
- Occupancy Date 03/02/2021
- Air Rights (sq ft) 9,700
- Keys 77
- Year Renovated 2010-2021
- Buildings 3
- Price/Sq Ft (Land Value) $1,043/SF
- Broker Co-Op Yes
- APN 02-3234-008-0660
- Price/Key $337,662.34
- Ownership Partnership