321 Collins Ave - South of Fifth Hotel
Rare hospitality offering in prime South of Fifth enclave, one block from the ocean in South Beach. This 8,766 SqFt, two-story, 26 room hostel includes all new flooring, upgraded en-suite bathrooms, on site laundry, over-sized lobby, common area kitchen, freshly painted exterior and recently completed 40 year re-certification. Operating as Jazz on South Beach Hostel, the property currently holds 196 beds with potential capacity to increase to 218 beds. Feasibility study done for 3rd floor addition & new owner can activate lobby with liquor license/ food and beverage. Steps to the best restaurants, nightlife, and retail; this property is central to the fashion, art, and culture that is Miami Beach.
- Address: 321 Collins Avenue, Miami Beach FL 33139
- One block from the beach
- Hotel license
- Currently operating as Jazz on South Beach Hostel
- Total rooms: 26
- Total beds: 182 (with capacity to expand to 218)
- 8,766 SqFt
- 40 year re-certification completed
- Architectural plans to add 3rd floor
- MLS ID A10337421
Offered at $7.145M
ABOUT THIS PROPERTY
This historic two story South Beach hotel property has been run by current ownership as a 182 bed hostel with 26 rooms, all enjoying newly renovated en suite bathrooms. The 40 year building re-certification process has just been completed, along with upgraded ceramic tile flooring throughout, new glass shower stalls, and double sinks in most rooms. The value add proposition at 321 Collins lies with the opportunity to create 2600 s.f. 3rd floor addition, either as rooms or a private penthouse for an owner. Activation of the over sized lobby and beautiful front terrace with food and beverage opportunities provides for a significant increase in income from both guests and local residents alike. This gem of a property could additionally be turned into a boutique all suite hotel, private residence, or vacation rental apartments.
This hospitality offering sits in the Miami Beach zone with the highest barriers to entry; an investor's dream. Located in the heart of South Beach's most exclusive enclave, South of 5th, the property is surrounded by luxurious residential towers such as Apogee, Glass, One Ocean, Beach House & Continuum, with average prices running $1400-3000 per square foot. This area is complimented by the best dining spots such as Joe's Stone Crab, Prime 112, Milos Estiatorio, and Smith & Wollensky, to name a few. The area attracts visitors and residents alike from all over the world due to the unique lifestyle enjoyed by to the pathway that wraps around the extensive waterfront, allowing strolling, jogging or biking from beach to bay, with stunning views, park activities like sports or picnicking, or simply embarking at the Miami Beach Marina for a sunset cruise, a day of fishing or touring Miami's bayfront neighborhoods. From the doorstep of the Jazz Hostel/Atlantica Hotel, you will be on the gorgeous sand beach in under two minutes walking.
For more details, contact:
Leslie Cooper at ONE Commercial 786.486.8003 or [email protected]
Ramon Rodriguez at ONE Sotheby's 305.804.1955 or [email protected]
Alex Miranda at ONE Sotheby's 305.297.2220 or [email protected]