Commercial Market in Miami
Hello my name is Lewis Anderson
I was approached by another agent with an off market hotel and motel as well as office buildings near Miami.
1) South Beach Boutique Hotel on Ocean Drive: Asking $35MM 49 rooms has been renovated Good additional revenue ($540,000/year) from lease income from restaurant and bar. 9 years left on new lease they signed about 1 year ago.
(2) Main motel is on Federal Hwy with two buildings directly behind it and one across the street from the two buildings behind the main building.
- The main building consists of 15 units (9 studios and 6 hotel rooms)
- 2nd building has 6 units in it
- 3rd building (3-1 bedrooms,2-hotel rooms,1 studio and 1-3 bedroom)
- 4th building is 2-2 bedroom 1 bathroom units
Asking price is $7,500,000 with approximately 7.8% cap rate
3. Office building in Pembroke Pines It's now on the market and my seller has 12 units of the building and 4 units are owned by others. Based upon my seller already leasing two of the units, the 6.8% is proforma for 2023 with signed leases.
If you want more information please let me know the agent said that for financials you need to sign an NDA.