1343 NW 1st St - Hospitality FOR SALE


Miami, FL 33125- Little Havana
$6,820,000 USD
954-245-3492
1343 NW 1st St, Miami, FL for Sale
$6,820,000 USD
Hospitality - FOR SALE
1/14
null | 6% Cap Rate

1343 NW 1st St
Miami, FL 33125
Little Havana


HIGHLIGHTS

  • 2023 Construction, 4-Stories, Parking Garage, 22 Unit Vacation Rental on Master Lease
  • Leased to Slumber Stays thru 2029 with Option Periods Until 2031, Passive Investment
  • Walking Distance to Loan Depot Park (Miami Marlins), Sedanos, CVS and Calle Ocho
  • AHI within 5-Miles $91,492 w/a Population Growth of 11.08% Since 2010 (Experian)

OVERVIEW

Slumber Stay at Metro Parc is a four-story concrete building with a flat roof and covered parking garage constructed in 2023. The property consists of (19) studio’s (possible 1-bedroom conversion) and (3) two-bedroom apartments, totaling 22 units. The building spans 24,051 gross square feet with 12,153 rentable square feet on a 7,500-square-foot lot, according to the Miami Dade County Property Appraiser. Units feature central air conditioning, stainless steel appliances, 4K TVs, and high-speed internet. Building amenities include electronically secured door access, gated parking with 15 spaces (1 handicapped, 7 parking spaces, 7 lifts), an elevator and an on-site laundry facility. The property is currently leased to Slumber Stay on a five-year lease with two, one-year options. The second year of the lease term will begin in November 2025 at a rent of $45,000 per month. The rent then increases 2% annually through the remainder of the lease term and option periods. Under the lease, the landlord is responsible for property taxes, minimal insurance requirements and the elevator and fire alarm system. The tenant is responsible for all other expenses.

FOR SALE DETAILS

PRICE

$6,820,000 USD

PRICE/SF

$284 USD /SF

# OF ROOMS

22

PRICE/ROOM

$310,000 {currency}

CAP RATE

6%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Slumber Stay at Metro Park

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

Hotel

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2023

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

T5-L

APN/PARCEL ID

01-4102-005-9180

ASK ABOUT THIS PROPERTY

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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Joseph ThomasMarcus & MillichapMore Info
954-245-3492

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.