Historic Hotel and Apartment Complex with
For Sale
$4,500,000
Pending
118 SW S RIVER DR, Miami, FL 33130
Historic hotel property with a pool, gardens on the Miami River, and 32 gated parking spaces, plus apartment units.
Property Size29,116 SF
Days on Market5595
Property Features for 118 SW S RIVER DR
General Information
Standard status
Pending
Size
29,116 SF
Total Parking Spaces
32
Property subtype
General Commercial
Additional Details
Multifamily Units
16
Amenities
pool
gardens
3
32 Parking Spaces.
Building Details
Year Built
1910
Year Renovated
1989
Listing Agency:
(305) 790-5511
Listed By:
The Keyes Company
(305) 790-5511
Source:
Xome
Added: Apr 13, 2011
Changed: Jul 31
Last Checked: Jul 31 at 1:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Keyes Company
Investment Insights
Based on property information with market context.
Historic Miami River Inn is an operating hotel property since 1910 and was completely renovated in 1989. The offering includes a 38-room hotel and a 16-unit apartment complex, providing a mixed configuration within one property.
Outdoor amenities include a pool and gardens on the Miami River. Parking is available on site with a 32-car gated parking lot, supporting guest and resident needs.
With the hotel and apartment components combined, the property can accommodate multiple operating strategies while retaining a single, cohesive site plan.
Outdoor amenities include a pool and gardens on the Miami River. Parking is available on site with a 32-car gated parking lot, supporting guest and resident needs.
With the hotel and apartment components combined, the property can accommodate multiple operating strategies while retaining a single, cohesive site plan.
Key Highlights
- Operating hotel since 1910
- Completely renovated in 1989
- Includes 38‑room hotel plus 16‑unit apartment complex
Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $524.1k | $18.00 |
| − Vacancy | −$62.9k | −$2.16 |
| EGI | $461.2k | $15.84 |
| − OpEx | −$242.1k | −$8.32 |
| NOI | $219.1k | $7.52 |
29,116 SF · lease $18.00/SF/yr · vacancy 12.00% · expense 52.50%
Alternative Uses
Best Use
Apartment 5plus
$7.68M
$6.72M – $8.96M
NOI $537,872 @ 7.0% cap · market cap 11.95%
Second Best
Hotel Hospitality
$3.13M
$2.74M – $3.65M
NOI $219,069 @ 7.0% cap · market cap 4.87%
Theoretical Best
Specialty Retail
$19.65M
$17.20M – $22.93M
NOI $1,375,744 @ 7.0% cap · market cap 30.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
13,339
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Historic hotel property with a pool, gardens on the Miami River, and 32 gated parking spaces, plus apartment units.
Where is this hotel located?
The property is located at 118 SW S RIVER DR Miami, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Operating hotel since 1910; Completely renovated in 1989; Includes 38‑room hotel plus 16‑unit apartment complex
