South Beach, Hotel For Sale

3498

Property ID

32,330 SqFt

Size

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).​

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Address

Address: 1401 Collins Ave, Miami Beach, FL 33139
  • Country: United States
  • Province / State: Florida
  • City / Town: Miami
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  • 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

Contact

Cynthia Hill

Property Agent
+1 305-967-7200
chsellsflorida@gmail.com
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