This incredible opportunity in Sunny Isles Beach offers the chance to purchase two buildings with a total of 196 units and condo control over 147 of them. The property is located on 3.97 acres of land, which is a super rare find in the area. The pool can be purchased anywhere between $550-600 per foot, with rents climbing over $2 per square foot and a minimum rent starting in the $2000s. The sellers are offering a leaseback program to stay in their units for another year with an annual lease, and there’s also the possibility of paying off upfront at the closing. The property is located exactly behind the parking lot for a former Rascal House diner, which was later turned into the Epicure super market and is now vacant. The city has approved the location for a high-rise building. The board and majority of unit owners are eager to sell, and the property includes 70 1/1 units at 546 square feet, 98 1/1/1 units at 756 square feet, 18 2/1.2 units at 801 square feet, and 10 2/2 units at 940 square feet. This deal can be yours for $75-80 million.
FOR SALE MARINA WITH SHORT TERM RENTAL UNITS .
The four-lot marina features eight large boat slips that can accommodate 40’ to 60’ yachts as well as a six-bedroom mansion and four apartments.
11102 Biscayne Blvd Miami, FL 33181
Bed: 23 Beds
Living Area: 9979 Sq. Ft
Year Built: 1951
AC: WINDOW UNITS
Construction Type: CBS
Status: Off Market----------------
THIS HOTEL WITH 23 KEYS IS LOCATED AT 11102 NE BISCAYNE BOULEVARD (U.S 1), MIAMI, FLORIDA 33181.
PER THE SELLER AND WITHOUT P&Ls IN MY HANDS, THE NET OPERATING INCOME IS IN EXCESS OF $400,000 ANNUALLY. THE BUYER WILL GET EVERY SINGLE OUNCE OF FINANCIALS AND DUE DILIGENCE INFORMATION AND DOCUMENTATION DUE TO THE BUYER.
TO MOVE FORWARD, THE BUYER AND OR THE SELLER TO SIGN THE ASSET SPECIFIC MASTER FEE AGREEMENT (DEPENDING ON THE EXECUTED PURCHASE PRICE), THE BUYER TO PROVIDE AN ASSET SPECIFIC LETTER OF INTENT TO INCLUDE THE PURCHASE PRICE, DUE DILIGENCE PERIOD, CLOSE OF ESCROW OF DATE AND THE AMOUNT OF THE EARNEST MONEY DEPOSIT THAT WILL BE ESCROWED ONCE THE BUYER AND THE SELLER EXECUTE THE PURCHASE AND SALE AGREEMENT. THE BUYER TO PROVIDE A BUYER'S COMMERCIAL BIO OF COMMERCIAL ASSET HELD IN THEIR INVESTMENT PORTFOLIO. THE BUYER TO PROVIDE A BUYER'S VERIFIABLE PROOF OF FUNDS IN THE FORM OF A BANK OR FUND STATEMENT OF ACCOUNT.
PRICE PER UNIT
PRICE PER SF
NUMBER OF UNITS
Excellent Normandy Isle Location
Impact Resistant Windows and Doors
Upside in Rental Income
Walking Distance from North Beach, Public Transportation, Restaurants, Shops and Grocery Stores
Cap Rate 4.71%
Number of Units 14
Price/Gross SF $501.98
Gross SF 6,574
The newly renovated retail plaza is nearly fully leased with a co-tenancy which includes Salty Donut, Pura Vida and Fox's Sherron Inn. The property is comprised of approximately 10,815 SF between three retail buildings with a total lot size of approximately 17,530 SF. The property benefits from optimal high visibility and provides easy access to both pedestrian and vehicle traffic. The two retail buildings have an outdoor courtyard in the center perfect for hosting patrons.
The Property is located in South Miami on US1 at the gateway to Downtown with close access to the South Miami Metro Rail Station. It is 5 min away from the University of Miami and a few blocks from the Shops at Sunset Place, the Plaza San Remo and the newly build student housing The Standard.
SALE PRICE $11,750,000
BUILDING SIZE 10,815 SF
LOT SIZE 17,530 SF
CAP RATE 6.11%
PRICE PER UNIT
PRICE PER SF