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31429872
31429873

575 NE 61st St, Miami, FL 33137 For Sale

SP
FL SL3442856
KW
PA 10401252368
GREA
GREA
Listed by GREA
$2,200,000
117 days on market
Updated 24 days ago

ZEN MOTEL INN - SHORT TERM RENTAL

Details
APN 01-3218-030-0290
Property Type Hospitality, Multifamily
Sub Type Motel
Square Footage 2,786
Units 8
Price per SqFt $790
Class C
Year Built 1936
Buildings 1
Stories 1
Lot Size (SqFt) 4,800
Zoning R-3

8 UNITS | MIAMI, FLORIDA

Marketing description

Global Real Estate Advisors (GREA) exclusively presents the rare opportunity to acquire an 8-unit short-term rental asset in one of Miami’s most desirable and supply-constrained submarkets. Located in a prime, highly walkable area, the asset benefits from immediate proximity to Miami’s top lifestyle drivers, including world-class dining, retail, entertainment, and major employment corridors.

The property is uniquely positioned, holding both a short-term rental license and a hotel zoning designation, which allows for maximum operational flexibility and the ability to capitalize on Miami’s robust tourism and short-term rental demand. Additionally, ownership is offering seller financing, providing investors with the ability to structure favorable leverage and enhance overall returns with reduced upfront equity.

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Miami continues to be one of the most dynamic real estate markets in the country, driven by strong domestic migration, international capital inflows, and year-round tourism. Demand for short-term rental accommodations remains strong, particularly in centrally located, walkable neighborhoods. Investor demand is being fueled by foreign capital, family offices, and Northeast-based buyers actively seeking well-located, income-producing assets with operational upside.

This offering represents a highly differentiated opportunity to acquire a short-term rental asset with in-place cash flow, significant short-term rental upside, and the added benefit of seller financing. The combination of licensing, location, and financial performance creates a compelling investment opportunity with immediate yield and long-term appreciation potential.

COMPELLING SHORT-TERM RENTAL ECONOMICS

Based on existing performance and comparable STR data in the immediate area:

  • Peak months are achieving $20K to $24K+ in gross revenue
  • Off-peak months show opportunity for rate and occupancy optimization
  • Professional management and pricing strategies stabilize and increase year-round income

This creates a strong opportunity to significantly outperform traditional long-term rental income.

VALUE-ADD & UPSIDE STRATEGY

A new owner can unlock additional value through:

  • Implementing professional short-term rental management
  • Optimizing daily pricing and occupancy strategies
  • Reducing operational inefficiencies (i.e., payroll and maintenance controls)
  • Enhancing branding/marketing to drive higher ADR

With these improvements, the asset is well-positioned to achieve meaningful NOI growth while maintaining strong occupancy.

Investment highlights

  • SHORT-TERM RENTAL & HOTEL ZONING ADVANTAGE: Fully approved for short-term rental use and carries a hotel license - an increasingly rare and valuable designation in Miami - allowing for traditional multifamily, short-term rental, or hybrid operations
  • SELLER FINANCING – ENHANCED YIELD PROFILE: Available seller financing provides a unique opportunity to secure attractive leverage with flexible terms, increasing cash-on-cash returns and reducing execution risk in today’s capital markets environment
  • PROVEN IN-PLACE INCOME WITH SEASONALITY UPSIDE: The asset demonstrates strong historical income, generating $213,876 in trailing revenue over the past 12+ months. Monthly revenues have reached as high as $24,000+, with clear seasonality trends that can be further optimized through professional STR management and dynamic pricing strategies
  • STRONG CASH FLOW WITH OPERATIONAL UPSIDE: Trailing financials reflect approximately $152,000 in net income, with an average monthly net income ranging from $12,600. Current operations already support positive cash flow, while presenting a clear path to NOI growth through revenue optimization and expense efficiencies.
  • LIMITED SUPPLY OF LICENSED STR ASSETS: Assets with hotel licensing and short-term rental approval are extremely limited in Miami, particularly in prime locations. Increasing regulatory pressure continues to restrict new supply, enhancing the long-term value of properly licensed properties.

Listing Contacts

SP
FL SL3442856
KW
PA 10401252368
GREA
GREA
Listed by GREA

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Additional Information

Name
Saagar Patel
License
SL3442856
Brokerage
GREA
Brokerage Phone
305-999-5155
Title
Associate
Brokerage Address
7300 Biscayne Boulevard
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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