For Sale
$50,000,000

600 Ocean DrMiami Beach, FL 33139

Historic 54-key hotel, prime location.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional oceanfront hotel in Miami Beach presents a unique investment opportunity. The property, built in 1933, features 54 keys across three stories within a single building, totaling 30,739 square feet. Situated on a double lot encompassing 16,939 square feet, it enjoys a coveted corner location at 600 Ocean Drive, Miami Beach, FL 33139 (APN: 02-4203-004-0060). Currently operating at 100% occupancy, the hotel offers a compelling cap rate of 0.02% and boasts a price per square foot of $1,626.60, with an asking price of $50,000,000. The property's prime location in the heart of South Beach, near Ocean Drive, places it within walking distance of the beach and surrounded by high-traffic areas with established businesses. The hotel's mixed-use zoning allows for diverse development possibilities. Its historic Art Deco architecture is complemented by modern amenities, and the on-site restaurant adds to its appeal. This is a rare chance to acquire a thriving hospitality asset in one of the world's most desirable destinations. The property's strong performance and strategic location make it an attractive investment for discerning buyers.

Highlights

  • Prime Ocean Drive location with mixed-use entertainment zoning, offering diverse development potential.
  • Large outdoor seating area on Ocean Drive, surrounded by high-traffic businesses like TGIF, Caffe Milano, and The Clevelander.
  • Unparalleled beachfront access to South Pointe Beach.

Property Details for 600 Ocean Dr

Property type
Hospitality properties, Hotels
Square Feet
30,739 SF
Year Built
1933
Buildings
1
Stories
3

Location Insight

City
Miami Beach
County
Miami-Dade
State
Florida
Latitude
25.775790633624
Longitude
-80.1317353542
600 Ocean Dr, Miami Beach, Florida

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600 Ocean Dr
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