711 Lenox Ave, Miami Beach, FL 33139 For Sale

David Restainer

PRO

FL BK0661121

Listed by Douglas Elliman Real Estate

$2,850,000

47 days on market

Updated 12 days ago

711 Lenox Ave, Miami Beach

Details

APN

02-42-03-009-7570

Property Type

Multifamily, Hospitality

Sub Type

Apartment Building, Fully licensed short term rental - all hotel licenses

Square Footage

2,558

Units

Cap Rate

6.00%

NOI

$165,000

Pro-Forma Cap Rate

8.00%

Pro-Forma NOI

$235,000

Class

Year Built

1934

Year Renovated

2013,2024

Buildings

Stories

Lot Size (SqFt)

7,500

Zoning

3900

Parking Spaces

4 spaces

Parking per 1,000 SqFt

1.56

TripAdvisors best B&B in South Beach. 8 Rooms with a 12 yr track record of success.

Marketing description

711 Lenox Avenue, operating as Bars Hotel, is a fully-licensed, turnkey 8-room boutique Bed & Breakfast/Hotel in the heart of Miami Beach's Art Deco Historic District. Built in 1934 and comprehensively renovated in 2013, the Spanish Colonial Revival property has earned a 14-year track record of guest acclaim, including the #1 Bed & Breakfast in Miami Beach on TripAdvisor. The asset sits on a 7,500 SF lot inside one of the world's most photographed neighborhoods, an 11-minute walk to the Atlantic, and within blocks of Lincoln Road, Ocean Drive, Flamingo Park, and the Miami Beach Convention Center. A rare combination of historic significance, an active hotel license, and immediate income — supported by a Miami Beach hospitality submarket forecast to deliver 8.6% RevPAR growth in 2026.