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NNN Leaseback hospitality 538 Meridian Ave 12 Room Serviced Apartment Miami Beach, FL 33139 $12,500,000 ($1,041,667/Room) 5.16% Cap Rate
Investment Highlights
- This property is centrally located in the heart of South Beach.
- Close proximity to the Ocean.
- Zero Landlord responsibility.
- Near Florida State Road A1A.
Executive Summary
Price: US $12,500,000
CAP/Retorno: 5.15%
Building Area: Approx.18,301 Sq. ft = 1,700 m²
Lot: 7,000 Sq.Ft Sq. ft = 650 m²
Year Built: 2019
NOI: US $644,613
Annual Expenses: NNN Tenant is responsible for all expenses including property tax, insurance, and maintenance. Contract Terms: 5
years contract remaining.
Increases 3.5 % annual.
Extensions: N/A
Guarantor: CVC Corp, one of the largest travel groups in Latin America, with brands that operate in Brazil ,Argentina, and the United States, in the segments of vacation and leisure, corporate/business, education (cultural exchange abroad), management and rental of residences .
12 Units each are 2 bedroom and 1 1/2 bathroom
CAP/Retorno: 5.15%
Building Area: Approx.18,301 Sq. ft = 1,700 m²
Lot: 7,000 Sq.Ft Sq. ft = 650 m²
Year Built: 2019
NOI: US $644,613
Annual Expenses: NNN Tenant is responsible for all expenses including property tax, insurance, and maintenance. Contract Terms: 5
years contract remaining.
Increases 3.5 % annual.
Extensions: N/A
Guarantor: CVC Corp, one of the largest travel groups in Latin America, with brands that operate in Brazil ,Argentina, and the United States, in the segments of vacation and leisure, corporate/business, education (cultural exchange abroad), management and rental of residences .
12 Units each are 2 bedroom and 1 1/2 bathroom
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
- Balcony
- 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 | 12 | $379.00 | - |
Very walkable
80/100
Fairly drivable
50/100
Some public transit
40/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 02-4203-009-4930 | Improvements Assessment | $2,000,000 (2025) |
| Land Assessment | $2,800,000 (2025) | Total Assessment | $4,800,000 (2025) |
Property Taxes
Parcel Number
02-4203-009-4930
Land Assessment
$2,800,000 (2025)
Improvements Assessment
$2,000,000 (2025)
Total Assessment
$4,800,000 (2025)
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NNN Leaseback hospitality | 538 Meridian Ave
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