Price: $8,499,000 | 19,155 s.f. | Beds | Baths
| Listing Price: | $8,499,000 |
| Price per Square Foot: | $443.70/s.f. |
| Beds: | |
| Baths: | |
| Interior Space: | 19,155 s.f. (1,779.6 m²) |
| Total Size: | 19,155 s.f. (1,779.6 m²) |
| Monthly Maintenance Fee: | $0 |
| Taxes (2025): | $809,106 |
| Reference: | A12019182 |
| See this property on BHSUSA.com | |
A fully operational 25-unit hospitality compound, 12 hotel keys (apartment size) + 13 residences, generating $1M+ in gross annual revenue with a 5.13% cap rate and $436,287 current NOI. Three renovated two-story towers on a 16,950 SF lot, three blocks from the Atlantic Ocean and one block from Collins Ave. Every unit is designer-finished with quartz countertops, rainfall showers, smart entry, and full kitchens. Amenities include a resort-style pool deck, fitness center, game room, kids' lounge, and tropical grounds, rare for North Beach at this price point. The numbers speak clearly: 50% LTV financing, $113,970 annual cash flow after debt service, a projected 10.79% levered IRR, 2.57x equity multiple, and $7M+ in profit over a 10-year hold. Four exit strategies — redevelop, rebrand, hold, or resell — with no capital restructuring required. Miami Beach's stringent STR licensing creates a structural moat that new entrants cannot easily replicate. Prime location. Proven revenue. Real optionality. This is the kind of asset North Beach simply doesn't offer twice.
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