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.