USD 12,500,000

65-75 Washington Ave
Miami Beach, Florida 33139

For Sale

Property Description

The units are individually owned under a Condominium form of ownership. Upon the closing of the purchase, the new owners would collapse the condominium and operate it either as a hotel or as a short term rental asset. Short term rentals are allowed under the current zoning. They are currently prohibited by the Condo Bylaws.

The zoning allows for many uses, retail, hospitality, apartments, and hotel are the uses allowed “as of right” per the current zoning. The property was built in 1960 and is considered historical as It is a Mid-Modern architecture. The zoning allows for up to 5 stories but the façade of the building would have to be restored as is. This is a redevelopment play to either operate the existing 26 units as an ab&B or to convert to 50 high end hotel suites

Listed by Real Miami Commercial R.E.

Property Details

ID #
A10475827
Status
Sale
Type
Commercial, Industrial, Hotel
Zip Code
33139
Year Built
1960
Parking Spaces
10
Occupancy
Call Listing Agent
Parking
Free Parking
Type of Building
Condominium, Hotel/Motel
Zoning Information
CPS-1

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