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4025 Indian Creek Dr
Miami Beach, FL 33140
The Carmela by Roami · Hospitality Property For Sale
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19 Rooms
EXECUTIVE SUMMARY
ONE Sothebys is pleased to offer for sale 4025 Indian Creek Drive, known as The Carmela, a 19-unit condo on Miami Beach. This building is a unique property based in one of Miami Beach's most popular areas. The property offers twelve 1/1 units, four 2/1 units, and three 2/2 units in the heart of Miami Beach, and is currently operating as a Short-Term Rental facility with a hotel license in place which is transferable with the sale. Zoning permits single-family detached, townhomes, apartments, hotels, offices, parking garages, commercial businesses, and more. The units in this property's monthly rent is $5,923, making this building a high-income establishment. The submarket of Miami Beach is a wealthy coastal area located in the middle of Miami Beach.
The building offers a pristine location with a variety of nearby experiences and excellent exposure to Miami Beach. Situated off of one of Miami Beach's most recognizable streets, Arthur Godfrey Road, it is surrounded by numerous iconic hotels that populate the neighborhood, including SoHo House, the Thompson, the iconic Fontainebleau Hotel, the Confidante, and other prominent establishments. The building also offers walking distance to some of Miami's finest restaurants as well as shops, banks, and much more. This Miami Beach district is the perfect choice for those wanting to lounge on the beach during the day and explore the thriving nightlife scene after dark.
The Carmela is a walker’s paradise offering easy access to Miami's world-renowned beaches, and within a short distance of Whole Foods, Flamingo Park, Lincoln Road, Miami Beach Convention Center, Washington Avenue, Collins Avenue, and Ocean Drive. The recently completed $600+ million renovation of the Miami Beach Convention Center will add significant employment and hospitality opportunities in the immediate area. The project includes over 800 hotel rooms, 500,000 square feet of contiguous exhibit space, over 120,000 square feet of ballroom space, 880 parking spaces, and 12 acres of parks will bring more jobs to an already bullish hotel/tourist trade.
South Beach remains the most internationally recognized City in Florida. An international brand in itself that has over 5 million hotel bookings each year. Encompassing just two square miles at the southern tip of Miami Beach, South Beach is known for its Art Deco-style hotels and apartment buildings. The scarcity of land and high barriers to entry make Miami Beach the second-highest housing density in the US, not too far behind New York City. There is a limited supply of rental units on South Beach due to geographical barriers and many apartment units are being converted to condos.
The building offers a pristine location with a variety of nearby experiences and excellent exposure to Miami Beach. Situated off of one of Miami Beach's most recognizable streets, Arthur Godfrey Road, it is surrounded by numerous iconic hotels that populate the neighborhood, including SoHo House, the Thompson, the iconic Fontainebleau Hotel, the Confidante, and other prominent establishments. The building also offers walking distance to some of Miami's finest restaurants as well as shops, banks, and much more. This Miami Beach district is the perfect choice for those wanting to lounge on the beach during the day and explore the thriving nightlife scene after dark.
The Carmela is a walker’s paradise offering easy access to Miami's world-renowned beaches, and within a short distance of Whole Foods, Flamingo Park, Lincoln Road, Miami Beach Convention Center, Washington Avenue, Collins Avenue, and Ocean Drive. The recently completed $600+ million renovation of the Miami Beach Convention Center will add significant employment and hospitality opportunities in the immediate area. The project includes over 800 hotel rooms, 500,000 square feet of contiguous exhibit space, over 120,000 square feet of ballroom space, 880 parking spaces, and 12 acres of parks will bring more jobs to an already bullish hotel/tourist trade.
South Beach remains the most internationally recognized City in Florida. An international brand in itself that has over 5 million hotel bookings each year. Encompassing just two square miles at the southern tip of Miami Beach, South Beach is known for its Art Deco-style hotels and apartment buildings. The scarcity of land and high barriers to entry make Miami Beach the second-highest housing density in the US, not too far behind New York City. There is a limited supply of rental units on South Beach due to geographical barriers and many apartment units are being converted to condos.
PROPERTY FACTS
| Price Per Room | $720,526 | Building Size | 13,120 SF |
| Sale Type | Investment | No. Rooms | 19 |
| Cap Rate | 7.10% | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1939/2021 |
| Property Subtype | Serviced Apartment | Parking Ratio | 0.69/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 0.15 AC | ||
| Zoning | C-1 - COMMERCIAL | ||
| Price Per Room | $720,526 |
| Sale Type | Investment |
| Cap Rate | 7.10% |
| Property Type | Hospitality |
| Property Subtype | Serviced Apartment |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 13,120 SF |
| No. Rooms | 19 |
| No. Stories | 3 |
| Year Built/Renovated | 1939/2021 |
| Parking Ratio | 0.69/1,000 SF |
| Corridor | Interior |
| Zoning | C-1 - COMMERCIAL |
AMENITIES
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
- Multi-Room Suites
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 19 | $86.00 | - |
PROPERTY TAXES
| Parcel Number | 02-3226-001-1970 | Improvements Assessment | $7,862 |
| Land Assessment | $1,800,000 | Total Assessment | $1,807,862 |
PROPERTY TAXES
Parcel Number
02-3226-001-1970
Land Assessment
$1,800,000
Improvements Assessment
$7,862
Total Assessment
$1,807,862
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