Mixed-Use Property – 10,083 Sq. Ft. in Miami Beach, FL – Licensed for Nightly Rentals
Commercial Sale
Category: Mixed-Use
Price:$12,000,000
Location: Miami Beach, FL
Year Built: 1936
Days on Market: 8
Description:
Royal South Beach Condo-Hotel was built in 1936 with 42 Residential Units (4 1bed/1bath and 38 studios) and 4 ground-level Commercial Units facing Washington Avenue. This offer is for 33-units (approximately 10,083 Sq. Ft.) with a mix of studios and 1-bedroom units, all individually renovated and fully equipped. Property is licensed for transient occupancy or nightly rentals without restrictions. Each property individual owned with separate folio #’s. HOA fee per unit includes all utilities, insurances and 24/7 Front Desk service. Offer includes the entire ground-level commercial spaces (approximately 8,000 Sq. Ft.); generating a Net Annual Revenue of $216,000. Building renovated in 2000, including new plumbing, elevator, hallways, electrical, and A/C systems to common areas.
Own 33-units with a mix of studios and 1-bedroom units and entire ground-level commercial area. Property licensed for nightly/transient rentals.
Listing Code: 1118657689