$12,250,000
Miami, FL 33139
MLS# M1296653
Status: Closed
32330 sqft
1 / 4
Property Description
$8.25M FINANCING AVAILABLE TO QUALIFIED BUYERS, 7.25% INTEREST ONLY FOR 3 YEARS, 2 YEARS EXTENSION POTENTIAL, 2% PREPAYMENT PENALTY. 77 RM FULL SERVICE HOTEL, RESTAURANT LIC 48 SEATS, 4 COP LIQUOR LICENSE 5 AM, TWO FOLIOS 21,000 SF LAND, FAR 2.0-9.5k SFT. BUILDABLE. FANTASTIC FINANCIAL PERFORMANCE 2008, OCCUPANCY 83%, ADR IS $120.95; POTENTIAL F&B REVENUE PLUS ROOMS
Details
Maps
Contract Information
Comp Sale YN: No
Listing Date: 2009-02-12
Status: Closed
Original List Price: 16500000
Sold Price: $12,250,000
Current Price: $12,250,000
Location and Legal
Country: United States
County Or Parish: Miami-Dade
County Parish Name: Miami-Dade
Street Number: 1401
Street Name: Collins
Street Suffix: Avenue
City Name: Miami
Municipal Code: 2
State Or Province: FL
Postal Code: 33139
Postal Code +4: 4104
Area: 2320
Parcel Number: 0232340080660
Subdivision Number: 8
Zoning: 65/COMM
Directions: I-395 TO MIAMI BEACH, 5TH STREET EAST TO COLLINS AVE, NORTH TO NORTHEAST CORNER 14TH ST. &COLLINS AVE.
Property Description: Hotel
General Property Information
Number Of Buildings: 1
Property Sub Type: Hotel/Motel
Number Of Units Total: 7
Price Per Unit: 214286
Occupant Type: Owner
Building Area Main: 32330
Year Built: 1936
Year Built Details: YearBuiltDescription Resale
Lot Size Area: 914760000
Lot Size Acres: 21000
Stories Total: 3
Financial Information
Tax Annual Amount: 101949
Tax Assessed/SOH Value: 5053340
Tax Legal Description: OCEAN BEACH ADDN NO 2 PB 2-56LOT 11 & S1/2 LOT 12 BLK 19 LOT SIZE 75.000 X 140 OR 21244-0035 04 2003 1 ----
Status Change Information
Major Change Timestamp: 2009-12-11T03:50:03Z
Major Change Type: Status Change
Price Change Timestamp: 2009-04-08T02:50:03Z
Status Change Date: 2009-12-11
Under Contract Date: 2009-07-28
Close Date: 2009-12-10
Close Price: 12250000
Buyer Financing: Conventional
Building and Property Details
# Of Offices: 1
Income and Expenses
Gross Scheduled Income: 3234110
Inc/Exp Statement Period: ACCNTANT
Vacancy Allowance Rate: 17
Occupancy Percentage: 83
Description of Unit Type 1
Units Total: 77
Concessions
Seller Concessions: No
Section Details
Parcel Number MLX: 0660
Originating Details
Originating System Key: 27347932
Originating System ID: M00000151
Property Features
Building Features: Elevator(s); Laundry Facilities; Lobby; Lounge; Restaurant
Documents Available: Appraisal; Environmental Study; Other Available Information; Rent Rolls; Tax Return
Electric: 220 Volts
Flooring: Carpet; Ceramic Tile
Heating: Central Building; Window/Wall
Parking Features: On Street; Valet; Other
Property Condition: Resale
Sale Includes: Fixtures; Furniture; Inventory
Construction Materials: Block; CBS
Cooling: Central Building
Listing Terms: Cash; Conventional
Lot Features: Landscaped
Roof: Built-Up
Security Features: Security Fence; Security Guard
Sewer: Public Sewer
Special Information: Flood Zone
Structure Type: Hotel/Motel
Water Source: Public
Showing Requirements: Appointment Only; Call Listing Agent
Acreage Description: 1/4 To Less Than 1/2 Acre Lot
Listing Office: The Keyes Company
Last Updated: April - 09 - 2026
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