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… Read More 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. Read Less
Courtesy of Gary Hennes Realtors, Luca Migliore, 305-532-1558.
Listing Snapshot
Days Online
62
Last Updated
Property Type
Hotel/Motel
Square Ft.
9,127
Lot Size
0.17 Acres
Year Built
1941
MLS Number
A12003848
30 Days Snapshot Of 33141
$643k
-20%
(avg) sold price
14
+1,300%
homes sold
128
-77%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road frontage type: "City Street"
Building
Built in 1941, Toal building area: 9127, 3 total units
Lot
0.17 acres
Property
Zoning: 3900
Taxes
Annual amount: $40,845
Tenant Pays
"HVAC Maintenance", "Maintenance"
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