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$ 3,100,000
Est. payment | /mo
7,115 SqFt
$ 3,100,000
Est. payment | /mo
7,115 SqFt
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Pending
Purchase Type For Sale
Square Footage 7,115 sqft
Price per Sqft $435
MLS Listing ID A12062666
HOA Y/N No
Year Built 1962
Contingent Pending Inspections
Lot Size 0.310 Acres
Property Sub-Type Hotel/Motel
Property Description
Strategically located on Palm Avenue, the 23-room motel presents significant income growth potential through guest room renovations and optimized pricing strategies. The motel is under performing which provides a great opportunity for investor to get a good deal. Hialeah is one of the most sought out neighborhoods for investors due to the high turnover rates. Zoned C-2-liberal can provide a possibility of building a multifamily, located directly behind the newly built Palm Avenue Lofts with rents at $1,800+ for a 1/1 (500 sqft).
Location
State FL
County Miami-dade
Area 31
Zoning 6400
Interior
Heating Window Unit, Wall Furnace
Cooling Wall/Window Unit(s)
Exterior
Total Parking Spaces 18
Private Pool Yes
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Block
Others
Tax ID 04-31-18-003-1810
Security Features Fenced
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12062666
Listed by The Canero Group
NEARBY SCHOOL & BUSINESS
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