Byronessa Miami Beach 7320 Byron Ave 16 Room Hotel Miami Beach, FL 33141 $4,590,000 ($286,875/Room) 8.50% Cap Rate

Located at 7320 Byron Avenue in the rapidly evolving North Beach district of Miami Beach, Byron Avenue Suites is a fully licensed, turnkey boutique apart-hotel just 1,500 feet from the ocean. This 16-unit asset offers a rare combination of stabilized income, operational efficiency, and meaningful upside in one of the most supply-constrained short-term rental markets in the country.
Originally built in 1941, the property has successfully completed its 40-year recertification in 2025. The property features mini-split A/C systems, kitchenettes in every unit, updated FF&E, and a security camera system, ensuring a contemporary guest experience with low ongoing capital requirements.
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 of travelers, including vacationers, families, and longer-stay guests, supporting consistent occupancy year-round.
The property currently generates approximately $700,000 in annual gross revenue and delivers a strong $390,000 NOI, offering investors immediate cash flow.
Strategically positioned within walking distance to the beach, the North Beach Bandshell, and the North Shore Park & Tennis Center, the property benefits from strong local demand drivers. The surrounding area is undergoing significant transformation, with major public and private investments, including new mixed-use developments, retail expansion, and the 72nd Street Community Complex.
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, with an outstanding 9.8 score on Booking.com, a 5.0 rating on Google and approximately 4.92 on Airbnb across more than 4,000 reviews. 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 can reduce commission costs 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.
Byron Avenue Suites represents an exceptional opportunity to acquire a licensed, income-producing hospitality asset with strong in-place returns and future upside in a high-barrier-to-entry market.