637 Flagler StMiami, FL 33128

Property Details for 637 Flagler St

Year built

1925

Construction

CONCRETE

Lot size

0.16 AC

Property size (Sq ft)

15,420 SF

Zone code

6110:COMM/RES-DESIGN DIST

Property type

Hospitality properties

Property subtype

Hotels

APN

01-0200-090-1200

APU

102000901200

Description

This exceptional Miami property presents a unique investment opportunity encompassing two buildings on a 15,000 sq ft lot at 637/627 W Flagler St, Miami, FL 33128. Currently operating as a 55-key hotel with 55 units, this mixed-use asset offers significant upside potential. Built in 1929, the two-story structures sit on a substantial lot, zoned T6-12-0, allowing for the development of up to 100 residential units. The property's prime location, just one block from the Miami River and close to Brickell Avenue, ensures high visibility and strong rental demand. The asking price is $6,000,000. This presents a rare chance to acquire a well-positioned hospitality asset with substantial redevelopment potential in a thriving Miami market. The existing hotel infrastructure provides immediate cash flow, while the zoning regulations unlock significant future development possibilities. Investors seeking a blend of immediate return and long-term growth will find this property particularly attractive. The substantial lot size and favorable zoning make this an ideal candidate for a high-density residential project, capitalizing on the area's robust real estate market. This is a truly exceptional opportunity to acquire a significant piece of Miami real estate with multiple avenues for profitable investment.

• CAP approach

  CAP return

  Valuation

  6%

  $15,121,770

  6.5%

  $13,958,557

  7%

  $12,961,517

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,873,698

  Geo Method

  $13,873,698

• Alternative Use

  Use

  Valuation

  Residential

  $15,238,689

  Hospitality

  $13,958,557

  Educational

  $11,613,356

  Medical

  $12,012,757

  Retail

  $18,065,220

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7741

Longitude

-80.2052

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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