PRAIA Boutique Hotel & Residen

Highlights:

• Lot Features: Corner Lot
• Building Features: Exercise Room
• Number Of Buildings: 3
• Documents Available: Aerial Photo(S), Financial Statement, Investment Analysis, Other Available Information
• Cooling: Wall/Window Unit(s)
• Heating: Other
• Flooring: Ceramic Floor, Tile, Vinyl
• Construction Materials: Concrete Block Construction, Brick
• Parking Features: Common, Free Parking, Garage
• Security Features: Smoke Alarm, Smoke Detector(s), Security Fence

Description:

A fully operational 25-unit hospitality compound, 12 hotel keys (apartment size) + 13 residences, generating $1M+ in gross annual revenue with a 5.13% cap rate and $436,287 current NOI. Three renovated two-story towers on a 16,950 SF lot, three blocks from the Atlantic Ocean and one block from Collins Ave. Every unit is designer-finished with quartz countertops, rainfall showers, smart entry, and full kitchens. Amenities include a resort-style pool deck, fitness center, game room, kids' lounge, and tropical grounds, rare for North Beach at this price point. The numbers speak clearly: 50% LTV financing, $113,970 annual cash flow after debt service, a projected 10.79% levered IRR, 2.57x equity multiple, and $7M+ in profit over a 10-year hold. Four exit strategies — redevelop, rebrand, hold, or resell — with no capital restructuring required. Miami Beach's stringent STR licensing creates a structural moat that new entrants cannot easily replicate. Prime location. Proven revenue. Real optionality. This is the kind of asset North Beach simply doesn't offer twice.

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Listing ID: A12022628