Iconic Miami Beach Oceanfront Hotel — Turnkey Investment

Description

Rare opportunity to acquire a fully renovated 220-room oceanfront hotel on Miami Beach. Recent $12M renovation includes all guest rooms, lobby, F&B outlets, and meeting spaces. Strong RevPAR growth trajectory with significant upside potential through revenue management optimization.

Highlights

• $12M renovation completed 2021
• Oceanfront location on Ocean Drive
• 78.5% occupancy with upside to 85%+
• Three F&B outlets including rooftop bar
• No PIP required

Property Details

Property Name

The Seaside Grand Hotel

Hotel Type

Full Service

Total Rooms

220

Suites

30

Floors

12

Year Built

1998

Year Renovated

2021

Brand

INDEPENDENT

Location

1200 Ocean Drive, Miami Beach, FL, US

Amenities

Financial Details

Asking Price

$65,000,000.00

Price per Room

$295,454.55

Cap Rate

7.2%

NOI

$4,680,000.00

Occupancy Rate

78.5%

ADR

$289.00

RevPAR

$226.87

Gross Revenue

$18,500,000.00

EBITDA

$5,200,000.00