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721 Michigan Avenue - European Beach House, Miami Beach, FL

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721 Michigan Avenue - European Beach House

Miami Beach, FL 33139-6015 - Miami Beach Submarket

Property Type:Hospitality Number of Rooms:11 Status:Existing Year Built:1926
Stories:2 Building Size:7,000 SF Land Area:.16 AC (7,000 SF)
For Sale Price:$3,575,000 Price/Room:$325,000 Cap Rate:12.00 %

Parking:.58 Parking Spaces / 1,000 SF

Bed and Breakfast Hotel

Sale Notes:
This rare, Licensed Short Term Rental property in the Heart of South Beach provides extraordinary potential for a variety of enterprises. The 7,000 square foot complex is comprised of eleven Short Term Rental Units disposed around a central courtyard. The Main Building contains seven rental units (all with private baths), lobby, and upstairs common areas. The Courtyard Building to the rear provides four units with private entries, private baths, and private gardens. See attached OM for additional info.
Property is currently under renovation and will be delivered with a new certificate of occupancy. See attached Offering Memorandum for comparables,proforma income, and additional information.

The Keyes Company
Neal Deputy
(305) 371-3592

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