Home » Miami Beach » 538 Meridian Ave, Miami Beach, FL 33139 | A11668761

Hotel/motel For Sale 538 Meridian Ave, Miami Beach, FL 33139

$12,500,000

Property Highlights

Listing ID A11668761 Status of this Listing: Active For Sale Property Type Commercial Sale Hotel/motel Building Area 18,301 Sqft/1700.22 m2 approx. Lot area 7,000 Sqft/650.32 m2 approx. Year Built 2019 Time of this property on Rebonus 127 Day(s)

538 Meridian Ave, Miami Beach, FL 33139

Property Description: 12 Units, 2 BD, 16 BA, 24 Beds, 18,301 SQFT. Located in the heart of South Beach, walk to Collins Ave. Shopping District & Ocean Drive. Blocks away from Lincoln Road Mall, and Miami Beach Convention Center. The property is situated 5 miles northeast of Downtown Miami and 10 miles east of Miami Int 'l Airport. Property is leased to a hospitality group and its a boutique hotel. This is a smoke-free building with a parking garage. The units have a full-size kitchen with a refrigerator, dishwasher, oven with stovetop, microwave and washer and dryers. Units are fully furnished with modern furnishings throughout and beautifully decorated. Licensed for short term rentals. Cap Rate 5% (based on seller 's master lease income with tenant, not hospitality 's income).

Useful Info

Original List Price:$12,500,000
If Bank REO, Short Sale, As Is, etc.:
  • Corporate Listing (Corporate Owned Property)

Land Lot (Parcel) Details

Lot Size Unit:Square Feet

Construction

Number of Buildings:1
Construction Materials:
  • Block
Flooring:
  • Carpet
  • Ceramic Tile
Structure Type:
  • Retail
  • Hotel/motel
Road Frontage Type:
  • City Street

Property Features

Waterfront:No
Security:
  • Smoke Detector(s)
  • Fire Sprinkler System
  • Security Gate
  • Fenced

Taxes and Expenses

Tax Annual Amount:$79,555

Property Tax Notice for Buyers: Do not rely on the current property taxes paid by the seller, as your tax liabilities may increase following the sale. Transferring ownership or making improvements to the property often triggers tax reassessments, which could raise the amount you owe. If you have questions regarding property valuation, please contact the County Property Appraiser’s Office.

Terms

Occupant Type:
  • Call Agent
Buyer Possession:
  • Close Of Escrow
Lease Considered:No

Community

Senior Community:No

Parking

Garage:Yes
Covered Spaces:0
Parking Features:
  • Garage
  • Covered
  • Guest
  • Accessible Parking

More Details

Other Information:
Flood ZoneAE
FEMA Flood Zone DesignationsAE
Ref1089085744
Subdivision Number9
Boat Dock Slip Description:WiFi Available

Zoning and Legal

Tax Legal Description:3-4 54 42 34 53 42 OCEAN BEACH ADDN NO 3 PB 2-81 LOT 3 BLK 74 LOT SIZE 50.000 X 140 OR 22680-3236 0904 4
Real Estate Folio Number (Parcel Number):02-42-03-009-4930
Zoning Description:6503
Public Survey Range:42

Listing History

Update/EventDate/Days
Published Date:September 30, 2024 10:27 pm
On Market Date:September 23, 2024
Price Change Date Time:September 30, 2024 9:38 pm
Last Important Update Description:New Listing
Date and Time of Last Important Update:September 30, 2024 10:27 pm
Status Last Changed:September 30, 2024 10:27 pm
Photos Last Modified:October 1, 2024 2:46 am
Last Modified:February 4, 2025 5:16 pm
Days on the Market Reference Date:February 4, 2025
Days on the Market (updated on Last Modified*):134
Cumulative Days on the Market (updated on Last Modified**):867

Additional Information

Number of Photos:29
Location:,,
Included:Building & Land,,
Area:42
Courtesy of:Pulse Int'l Realty FL Inc
Universal Property Id:US-12025-N-0242030094930-R-N

Location

Show Property Address:Yes
Street Name:Meridian Ave
Street Number:538
Street Address:538 Meridian Ave
City : Miami Beach
State : Florida
Zip Code : 33139
County : Miami-Dade
Full Address:538 Meridian Ave, Miami Beach, FL 33139
Latitude:N25° 46' 31.4''
Longitude:W81° 51' 49''

Neighborhood

Postal City:Miami Beach

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