A recently remodeled non-flagged non-operating hotel located at 6730 Biscayne Boulevard in Miami has been sold for a price of $9,350,000. The property, situated in the historic MIMO district, features 53 keys and offers the buyer the potential to build additional units for increased profitability. The hotel is conveniently located near the ocean, Wynwood Art District, Miami shores, North Bay Village, and Legion Memorial Park. The surrounding area is also experiencing a wave of new construction projects.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $9,350,000
• Size: 15,855 square feet
• Price per square foot: $590
• Buyer: Armand Amsellem
• Seller: Eric Shea
• Brokers: Steve Gabay & Christopher Tapia - Florida's Best Realty

Steve Gabay of Florida's Best Realty and Christopher Tapia of Luxury Real Estate South Florida facilitated the transaction as the brokers representing the buyer and seller. This sale highlights the continued demand for properties in the Florida market. For those interested in commercial properties in Florida, there are opportunities available through our wholesale and retail commercial brokerage. For more information, please contact Steve Gabay at floridasbestrealty_ (305-542-5422) or Christopher Tapia at luxuryrealestate_southflorida_ (561-305-6794).