1320 Ocean DrMiami Beach, FL 33139

Property Details for 1320 Ocean Dr

Year built

1936

Construction

CONCRETE

Lot size

0.15 AC

Property size (Sq ft)

18,919 SF

Zone code

6501:COMMERCIAL

Property type

Hospitality properties

Property subtype

Hotels

APN

02-3234-008-0500

APU

232340080500

Description

This exceptional investment opportunity presents a beautifully renovated, 46-room Art Deco hotel located at 1320 Ocean Drive in Miami Beach, Florida. Built in 1936 by renowned architect Roy F. France, the Cavalier Hotel is a landmark property boasting a stunning oceanfront location directly across from the beach. The three-story building has recently undergone extensive renovations, resulting in luxuriously appointed guest rooms and interior spaces while meticulously preserving its exquisite Art Deco façade. The hotel also includes a restaurant and bar, complete with a 4COP liquor license, offering diverse revenue streams. The property's Mixed-Use Entertainment (MXE) zoning provides significant flexibility for future development, allowing for hotel operations, retail spaces, restaurants, and more. Situated in a world-class destination that attracts millions of visitors annually, this fee-simple, unencumbered property offers a new owner maximum operational flexibility and significant upside potential. The asking price for this irreplaceable historic masterpiece is $25,000,000. This prime Miami Beach location, combined with the hotel's unique character and recent renovations, presents a compelling investment opportunity in one of the world's most desirable destinations. The property is located in Miami-Dade County, Florida, with a zip code of 33139.

• CAP approach

  CAP return

  Valuation

  6%

  $18,553,098

  6.5%

  $17,125,936

  7%

  $15,902,656

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,021,822

  Geo Method

  $17,021,822

• Alternative Use

  Use

  Valuation

  Residential

  $18,696,548

  Hospitality

  $17,125,936

  Educational

  $14,248,578

  Medical

  $14,738,609

  Retail

  $22,164,456

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.7844

Longitude

-80.1302

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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