7320 Byron Ave, Miami Beach, FL 33141
7320 Byron Ave, Miami Beach, FL 33141
7320 Byron Ave, Miami Beach, FL 33141
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Monica Cataluña, CCIM, ALC

Monica Cataluña, CCIM, ALC

+1(954) 812-1831
$4,590,000
Est. payment /mo
9,127 SqFt
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Key Details

Property Type Commercial

Sub Type Hotel/Motel

Listing Status Active

Purchase Type For Sale

Square Footage 9,127 sqft

Price per Sqft $502

MLS Listing ID A12003848

HOA Y/N No

Year Built 1941

Annual Tax Amount $40,845

Tax Year 2025

Lot Size 7,500 Sqft

Property Sub-Type Hotel/Motel

Property Description

Byron Avenue Suites represents an exceptional opportunity.The property features 16 fully furnished apartments, including 2 two-bedroom units, 9 one-bedroom units, and 5 studios. Each unit is equipped with a kitchenette (sink, refrigerator, microwave), allowing flexibility for both short-term and extended stays. This diverse unit mix caters to a wide range of travelers, including vacationers, families, and longer-stay guests, supporting consistent occupancy year-round. A key competitive advantage is the property's grandfathered hotel license. Due to strict zoning and regulatory constraints in Miami Beach, new licenses are extremely limited, creating a strong barrier to entry and protecting long-term asset value. Byron Avenue Suites also benefits from an outstanding guest reputation:The property ranks as the #1 top-reviewed hotel in Miami Beach out of approximately 1,270 hotels. This strong track record supports repeat business, premium pricing, and consistent performance.
There is clear upside potential through several strategic initiatives: implementing a direct booking platform to reduce platform fees and capture repeat guests. Additional enhancements, such as on-site laundry and outdoor amenities like a jacuzzi and lounge areas, offer opportunities to further increase revenue and guest satisfaction.

Location

State FL

County Miami-dade

Area 32

Exterior

Private Pool Yes

Others

Tax ID 02-32-02-003-0810

Virtual Tour https://www.propertypanorama.com/instaview/mia/A12003848

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Miami Association of Realtors (SEFMIAMI MLS)
Listed by Gary Hennes Realtors

Nearby Locations

Monica Cataluña, CCIM, ALC

"We recognize that real estate ventures involve more than just transactions; they’re intricate puzzles that demand strategic thinking and a keen understanding of the numbers. With years of experience in the industry, we bring a wealth of knowledge and expertise to the table, ensuring that every client receives tailored solutions to meet their unique needs."

+1(954) 812-1831

monica@koresrealty.com

2665 Executive Park Drive, Suite 1 Weston, FL, 33331

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7320 Byron Ave