600 Ocean DrMiami Beach, FL 33139

Property Details for 600 Ocean Dr

Year built

1933

Construction

CONCRETE

Lot size

0.39 AC

Property size (Sq ft)

30,739 SF

Zone code

6501:COMMERCIAL

Property type

Hotels

APN

02-4203-004-0060

APU

242030040060

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $30,144,494

  6.5%

  $27,825,686

  7%

  $25,838,138

• Comparable approach

  Method

  Valuation

  Relative Method

  $27,656,524

  Geo Method

  $27,656,524

• Alternative Use

  Use

  Valuation

  Residential

  $30,377,566

  Hospitality

  $27,825,686

  Educational

  $23,150,644

  Medical

  $23,946,830

  Retail

  $36,012,116

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.7758

Longitude

-80.132

CBSA code

33100

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].