Lombardy Inn Motel | 6300 Collins Ave
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Lombardy Inn Motel 6300 Collins Ave
66 Room Hotel Miami Beach, FL 33141 £16,431,450 (£248,961/Room) 2.50% Net Initial Yield
Investment Highlights
- 2-story hotel located in Miami Beach near 60th St.
- Hotel has been in business for over 50 years, run as an independent hotel.
- On Collins across the street from the ocean.
- Great upside potential.
Executive Summary
2-story hotel located in Miami Beach near 60th St directly on Collins across the street from the Ocean. The hotel has been in business for over 50 years and runs as an independent extended stay hotel. Property has 66 rooms ranging from 250 sf and a CAFE, there is on site parking a lobby , terrace area and sundry store. This is on one of the most visible busiest corners, near shopping , Publix, Hilton hotel and multimillion dollar homes and Condos. This is a redevelopment deal and perfect to renovate into a flag hotel or boutique. Only $300,000 per key.
Property Facts
| Price | £16,431,450 | Lot Size | 0.46 AC |
| Price Per Room | £248,961 | Building Size | 19,778 SF |
| Sale Type | Investment | No. Rooms | 66 |
| Net Initial Yield | 2.50% | Number of Floors | 2 |
| Sale Conditions | Development Sale | Year Built/Renovated | 1948/2000 |
| Property Type | Hospitality | Parking Ratio | 0.51/1,000 SF |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | C |
| Price | £16,431,450 |
| Price Per Room | £248,961 |
| Sale Type | Investment |
| Net Initial Yield | 2.50% |
| Sale Conditions | Development Sale |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 19,778 SF |
| No. Rooms | 66 |
| Number of Floors | 2 |
| Year Built/Renovated | 1948/2000 |
| Parking Ratio | 0.51/1,000 SF |
| Corridor | Interior |
Amenities
- Restaurant
- Patio
- Beach (direct access)
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 66 | £61.81 | - |
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Walk Score ®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 02-3211-007-1500 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £3,611,540 |
PROPERTY TAXES
Parcel Number
02-3211-007-1500
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£3,611,540
zoning
| Zoning Code | RM-2 (Residential Multi-Family, retail commercial, hotel or any mixed use) |
| RM-2 (Residential Multi-Family, retail commercial, hotel or any mixed use) |
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Lombardy Inn Motel | 6300 Collins Ave
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