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$ 18,500,000
Est. payment /mo
Active
139 NE 1st St Miami, FL 33132
43,265 SqFt
UPDATED:
02/10/2025 09:23 PM
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Square Footage 43,265 sqft
Price per Sqft $427
MLS Listing ID A11723637
HOA Y/N No
Year Built 1927
Annual Tax Amount $90,162
Lot Size 7,500 Sqft
Property Sub-Type Hotel/Motel
Property Description
Shovel-ready hotel development with rare cost-saving advantages in Downtown Miami, steps from Miami Worldcenter, Brightline, and major corporate hubs. This fully entitled 163-room, 17-story project includes approved plans, demolition permits, and a 7-story steel structure, saving $5M–$10M in costs and cutting 6–12 months off development. The site qualifies for a 10-year Ad Valorem Tax Exemption and an estimated $8.74M in HTC benefits, creating major financial incentives. Located in one of Miami's strongest hospitality markets, this prime investment opportunity offers luxury hotel plans with a rooftop pool and the option for a pre-negotiated Flag Hotel Operator lease once developed, providing a turnkey, corporate-backed asset with substantial upside.
Location
State FL
County Miami-dade
Area 41
Exterior
Private Pool Yes
Others
Tax ID 01-01-10-040-1100
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11723637
Listed by Compass Florida, LLC