Art Deco Market & Guest Suites
Retail | 5.44% CAP | 9,800 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive sale of the Art Deco Market & Guest Suites (herein referred to as “the property”), an 8-unit Licensed Short Term Rental Property with ground floor retail located at 1435 Washington Avenue in the extremely rare and desirable South Beach neighborhood in Miami Beach. The property was constructed of concrete block in 1928, was renovated in 2025, and is situated on a 0.17-acre lot with street parking. The property is comprised of eight (8), 1-Bedroom/1 Bathroom units across 3,191 square feet of living area on the second floor, and a retail unit on the first floor that is fully leased to Art Deco Market with over 8 years of term remaining on the lease and attractive 2% annual rent increases. The Offering provides the unique opportunity to acquire a recently renovated, turn-key mixed-use property with multiple income streams in the heart of Miami Beach’s South Beach neighborhood.
The property is ideally positioned along Washington Avenue in the heart of South Beach, just steps from world-renowned Ocean Drive and Collins Avenue, two of the area’s primary corridors known globally for their dense concentration of dining, nightlife, luxury retail, and entertainment. The property is within immediate walking distance to the Atlantic Ocean and Lummus Park, providing direct access to public beaches and Miami Beach’s iconic oceanfront. Situated in one of the most active and walkable neighborhoods in South Florida, the Property benefits from exceptional pedestrian traffic and proximity to Lincoln Road, Española Way, and a wide range of hospitality and lifestyle amenities. The location also offers convenient connectivity to major roadways including Alton Road (SR 907), MacArthur Causeway, and Julia Tuttle Causeway, linking South Beach to Downtown Miami, Brickell, and Interstate 95 for broader regional access.
The Art Deco Market & Guest Suites presents an investor the unique opportunity to acquire a well-located Licensed Short Term Rental Property with additional commercial income in one of the most highly desirable submarkets within Miami Beach. With significant redevelopment occurring in the immediate area in Miami Beach and the South Florida market overall, new ownership should be able to benefit from the area’s buoyant future both in terms of consistent rent growth and appreciation over the long term.
Investment highlights
FLEXIBLE INVESTMENT OPPORTUNITY: SHORT-TERM RENTAL OR MULTIFAMILY USE
Key features include:
- Modern, Tenant-Ready Units: 8 stylish, fully equipped apartments designed to appeal to both transient guests and long-term residents.
- Prime Location: Situated near major transit routes, business districts, and local amenities — ensuring strong demand from both short-stay travelers and permanent tenants.
- Scalable Investment: The property's layout and design support flexible leasing strategies, allowing investors to respond dynamically to market shifts and regulatory changes.
- Commercial Income: The first-floor retail unit is fully leased to Art Deco market; with over 8 years of term remaining on the least and 2% annual rental increases, it provides a reliable income stream and long-term stability that synergizes with the residential units.
This property presents a rare opportunity for investors seeking both immediate cash flow and long-term value appreciation with a reliable, in-place income stream. Whether maintaining the short-term rental model, transitioning to multifamily use, or balancing both, this asset offers the versatility needed to adapt to evolving market conditions.
SOUTH BEACH SHORT-TERM RENTAL PROPERTY
The property presents a rare investment opportunity in one of the nation’s most robust short-term rental markets. These well-maintained short-term rental units benefit from high occupancy rates and strong daily rates, driven by the area's limited short-term rental inventory.
In Miami Beach legal short-term rental properties, such as the Guest Suites at the Property, are scarce due to strict local regulations that limit their operation. Most residential areas prohibit rentals shorter than six months and a day, with only specific zones and buildings allowing legal short-term stays, often requiring proper licensing and compliance with city ordinances.
What sets this Property apart is its superior units – offering fully furnished, spacious one-bedroom apartments. Unlike traditional hotel rooms, these units are superior and do not compete directly with hotels, as they can accommodate larger families and groups seeking additional in-room space, full kitchens, and amenities—features that are increasingly in demand in today’s travel market. Additionally, a significant percentage of STR properties in Miami-Dade County consists of poorly maintained or unrenovated, lower-quality units in less desirable locations compared to the portfolio being offered.
ACCESS & CONNECTIVITY
1435 Washington Avenue offers strong connectivity across multiple transportation modes in one of Miami Beach’s most accessible urban locations. Miami-Dade Transit bus routes and the Miami Beach trolley system provide reliable service throughout Miami Beach and direct connections to Downtown Miami, Brickell, and Miami International Airport, while local on-demand services such as Freebee enhance short-distance mobility within South Beach. For drivers, the Property benefits from immediate access to Washington Avenue and nearby Alton Road (SR 907), which connects directly to the MacArthur Causeway, one of the primary routes to the mainland and Interstate 95. This strategic positioning allows for efficient travel throughout the greater Miami metropolitan area. Miami International Airport is approximately 10 miles away (typically a 20–25-minute drive), while Fort Lauderdale-Hollywood International Airport is accessible within a 30–45 minute drive depending on traffic conditions.
AREA AMENITIES & DEMAND DRIVERS
1435 Washington Avenue offers strong connectivity across multiple transportation modes in one of Miami Beach’s most accessible urban locations. Miami-Dade Transit bus routes and the Miami Beach trolley system provide reliable service throughout Miami Beach and direct connections to Downtown Miami, Brickell, and Miami International Airport, while local on-demand services such as Freebee enhance short-distance mobility within South Beach. For drivers, the Property benefits from immediate access to Washington Avenue and nearby Alton Road (SR 907), which connects directly to the MacArthur Causeway, one of the primary routes to the mainland and Interstate 95. This strategic positioning allows for efficient travel throughout the greater Miami metropolitan area. Miami International Airport is approximately 10 miles away (typically a 20–25-minute drive), while Fort Lauderdale-Hollywood International Airport is accessible within a 30–45 minute drive depending on traffic conditions.
EXCEPTIONAL DEMOGRAPHICS
Over 34,800 people live within 1 mile of the Property with an average household income of $119,172. More than 65,100 people live within 5 miles of the Property with an average household income of $188,556. Additionally, there are over 59,900 employees within 3 miles of the Property.
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