FOR SALE
MIAMI BEACH HOTEL
REDEVELOPMENT OPPORTUNITY

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2618 Collins Avenue, Miami Beach, FL 33140

DWNTWN Realty Advisors has been exclusively retained to arrange the sale of 2618 Collins Avenue, a hotel redevelopment opportunity located in Miami Beach. This asset represents the opportunity to purchase a 94-unit multi-family building delivered vacant with approved plans. The plans include a 107-key hotel conversion with two pools and a restaurant. The site will be delivered shovel-ready approved and permitted. The site features a unique cross-block development site from the west side of Collins avenue to the east side of Indian creek. The property is located in a prominent mid-beach area with adjacency to the One Hotel, The W, the Edition, and Faena. The property is a short walk to the sand and the new Miami Beach Convention Center.

OFFERING SUMMARY

Sale Price: $27,500,000

Price Per Key at Acquisition: $257k

Renovated Cost Per Key: $397k

Pro-Forma Return On Cost: 11%

Existing Units: 94

Proposed Keys: 107

Building Size: 46,173 SF

Lot Size: 25,570 SF

Zoning: RM-2

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HIGHLIGHTS

• Hospitality Redevelopment Opportunity

• Central and MidBeach Location

• Cross Block with Double Visibility on Collins Avenue and Indian Creek Drive

• One Block from the Sand

• Irreplaceable Basis with Permits
• Shovel Ready

ADDITIONAL PHOTOS

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