Furnished Apartment-Style
7320 Byron Avenue Miami Beach, FL 33141
7320 Byron Avenue, Miami Beach, FL, 33141
$4,590,000
For Sale
$4,590,000
A 16-unit furnished property with studio through two-bedroom suites, each featuring kitchenette amenities.
Property Size9,127 SF
Price / SF$502.90
Days on Market44
Property Features for 7320 Byron Avenue
General Information
- Standard status
- Active
- Size
- 9,127 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1941
Listing agency
GARY HENNES REALTORS
Listed by
LUCA MIGLIORE · License #A12003848
Source
Corcoran
Added: Jun 9 Updated: Jul 21 at 2:14AM Checked: Jul 21 at 5:46AM
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 GARY HENNES REALTORS
Investment Insights
Based on property information with market context.
Byron Avenue Suites is a furnished hospitality property offering 16 fully furnished apartments, including two two-bedroom units, nine one-bedroom units, and five studios. Each unit is equipped with a kitchenette that includes a sink, refrigerator, and microwave, supporting both short-term and extended-stay configurations.
A key differentiator is the property’s grandfathered hotel license, presented as a significant barrier to entry given strict Miami Beach zoning and regulatory constraints that limit new licenses. The property is also supported by guest review momentum, ranking as the #1 top-reviewed hotel in Miami Beach out of approximately 1,270 hotels.
The current unit mix and in-unit kitchenettes are complemented by stated operational and amenity enhancement opportunities, including implementing a direct booking platform to reduce platform fees, as well as adding on-site laundry and outdoor amenities such as a jacuzzi and lounge areas.
A key differentiator is the property’s grandfathered hotel license, presented as a significant barrier to entry given strict Miami Beach zoning and regulatory constraints that limit new licenses. The property is also supported by guest review momentum, ranking as the #1 top-reviewed hotel in Miami Beach out of approximately 1,270 hotels.
The current unit mix and in-unit kitchenettes are complemented by stated operational and amenity enhancement opportunities, including implementing a direct booking platform to reduce platform fees, as well as adding on-site laundry and outdoor amenities such as a jacuzzi and lounge areas.
Key Highlights
- 16 fully furnished apartments with unit mix of 5 studios, 9 one‑bedroom, and 2 two‑bedroom suites
- Each unit includes a kitchenette with sink, refrigerator, and microwave for short- and extended‑stay flexibility
- Grandfathered hotel license, with new hotel licenses reported as extremely limited due to zoning and regulatory constraints
Local Financial Insights For Apartment 5plus
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 | $267.2k | $29.28 |
| − Vacancy | −$12.0k | −$1.32 |
| EGI | $255.2k | $27.96 |
| − OpEx | −$114.8k | −$12.58 |
| NOI | $140.4k | $15.38 |
9,127 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.01M
$1.75M – $2.34M
NOI $140,367 @ 7.0% cap · market cap 3.06%
Second Best
Hotel Hospitality
$1.18M
$1.03M – $1.37M
NOI $82,406 @ 7.0% cap · market cap 1.80%
Theoretical Best
Office A
$4.63M
$4.05M – $5.40M
NOI $324,136 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hotels
Similar For Sale Nearby
FAQs
What type of property is this?
Hotel - A 16-unit furnished property with studio through two-bedroom suites, each featuring kitchenette amenities.
Where is this hotel located?
The property is located at 7320 Byron Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $4,590,000.
What are key features of this property?
This property features: 16 fully furnished apartments with unit mix of 5 studios, 9 one‑bedroom, and 2 two‑bedroom suites; Each unit includes a kitchenette with sink, refrigerator, and microwave for short- and extended‑stay flexibility; Grandfathered hotel license, with new hotel licenses reported as extremely limited due to zoning and regulatory constraints
