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$4,900,000
Est. payment /mo
9,127 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Square Footage 9,127 sqft
Price per Sqft $536
MLS Listing ID A12003848
HOA Y/N No
Year Built 1941
Annual Tax Amount $40,845
Tax Year 2025
Lot Size 7,500 Sqft
Property Sub-Type Hotel/Motel
Property Description
Byron Avenue Suites represents an exceptional opportunity.The property features 16 fully furnished apartments, including 2 two-bedroom units, 9 one-bedroom units, and 5 studios. Each unit is equipped with a kitchenette (sink, refrigerator, microwave), allowing flexibility for both short-term and extended stays. This diverse unit mix caters to a wide range of travelers, including vacationers, families, and longer-stay guests, supporting consistent occupancy year-round.
A key competitive advantage is the property's grandfathered hotel license. Due to strict zoning and regulatory constraints in Miami Beach, new licenses are extremely limited, creating a strong barrier to entry and protecting long-term asset value.
Byron Avenue Suites also benefits from an outstanding guest reputation:The property ranks as the #1 top-reviewed hotel in Miami Beach out of approximately 1,270 hotels, with an outstanding 9.8 score on Booking.com, a 5.0 rating on Google and approximately 4.92 on Airbnb across more than 4,000 reviews. This strong track record supports repeat business, premium pricing, and consistent performance.
There is clear upside potential through several strategic initiatives: implementing a direct booking platform Tto reduce platform fees and capture repeat guests. Additional enhancements, such as on-site laundry and outdoor amenities like a jacuzzi and lounge areas, offer opportunities to further increase revenue and guest satisfaction.
A key competitive advantage is the property's grandfathered hotel license. Due to strict zoning and regulatory constraints in Miami Beach, new licenses are extremely limited, creating a strong barrier to entry and protecting long-term asset value.
Byron Avenue Suites also benefits from an outstanding guest reputation:The property ranks as the #1 top-reviewed hotel in Miami Beach out of approximately 1,270 hotels, with an outstanding 9.8 score on Booking.com, a 5.0 rating on Google and approximately 4.92 on Airbnb across more than 4,000 reviews. This strong track record supports repeat business, premium pricing, and consistent performance.
There is clear upside potential through several strategic initiatives: implementing a direct booking platform Tto reduce platform fees and capture repeat guests. Additional enhancements, such as on-site laundry and outdoor amenities like a jacuzzi and lounge areas, offer opportunities to further increase revenue and guest satisfaction.
Location
State FL
County Miami-dade
Area 32
Exterior
Private Pool Yes
Others
Tax ID 02-32-02-003-0810
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12003848
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Listed by Gary Hennes Realtors
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Milton Knight
Principal Real Estate Broker | License ID: 0663675
Principal Real Estate Broker License ID: 0663675