Price Reduced 6.33%
Price History
$4,900,000
4/19/2026
$4,590,000
6/4/2026
7320 Byron Avenue, Miami Beach, FL, 33141
1941
Byron Avenue Suites represents an exceptional opportunity.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. 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. 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 to reduce platform fees 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.
Status:
Active
Type:
Commercial
Units:
3
Zoning:
3900
Acreage:
0.17
Est. Taxes:
$40,845
Days on Market:
82
Owner Pays:
HVAC Maintenance, Maintenance
MLS #:
A12003848
Community Info
School Info
Walk Score
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Listing courtesy of Gary Hennes Realtors 305-532-1558