Prime Condo-Hotel Units for Sale in Miami Beach, FL
Business Opportunity
Category: Hospitality
Price:$7,590,000
Location: Miami Beach, FL
Year Built: 1936
Days on Market: 63
Description:
Redevelopment Opportunity when you own control of this Condominium-Hotel (Royal South Beach), with beach access just two blocks away. The offer is to acquire 33 out of 42-total individual units (combined 10,083 square feet), with the potential to also acquire all commercial spaces located on ground level and fully operational (approximately an additional 7,890 square feet). Property licensed for “nightly-rentals” that can be self-managed or rented through existing hotel rental-program. HOA fees are all-inclusive, including 24/7 concierge services (see attachments). All units are fully furnished with equipped kitchenettes. Building passed 40-Yr Recertification, and it is pending the 50-Yr recertification. Review MLS attachments and broker remarks for additional information.
Offering 33 out of 42 total units and commercial spaces. Property licensed for nightly-rental. Great income-portfolio or redevelopment opportunity.
Business Type: Other,Retail
Tax Legal Description: ROYAL SOUTH BEACH CONDO UNIT 117 UNDIV 466/20383 INT IN COMMON ELEMENTS OFF REC 21561-4692 COC 26462-3678 06 2008 5
Business Name: Royal South Beach
Year Established: 1900
Directions: Corner of 7 Street and Washington Avenue, South Beach
Hours/Days of Operation: Open24Hours
Financial Data Source: Owner
Parking Features: OnStreet
Insurance Expense: $1,000
Documents Available: Aerial,HoaDocuments,Lease
Listing Code: 1114691252