List Search

727 Collins Ave
Miami Beach, FL 33139 Lummus Park

$20,000,000 USD

Apartments For Sale  •  23,036 SF

Property Details

  • Property Type Apartments
  • Total Building Size 23,036 SF
  • Lot Size 0.16 AC
  • Building Class B
  • Year Built 1930
  • Zoning MXE
40 Transit Score
90 Walk Score

Highlights

10-year master hospitality lease at $90,000/month — $1,080,000 annually, commenced January 2026 with 9.4 years remaining
4,800 SF clear-span ground-floor retail delivered vacant — $50/SF NN adds $240,000 and lifts NOI to $1,229,429 (6.15% stabilized cap)
Operator absorbs all utilities, maintenance, and landscaping — ownership pays only taxes and insurance
All 25 units fully renovated with complete kitchens — supports extended-stay demand and higher achieved rate
Keyless entry with no front-desk staffing and no hotel management platform to acquire — zero operational overhead
1930 historic landmark on a 7,000 SF MXE barrier-island parcel with 60 ft of Collins Ave frontage — one block from Ocean Drive

Property Flyers

Public Transportation

Commuter RailDriveWalkDistance
Historic Overtown/Lyric Theatre (Metrorail Green Line - Miami-Dade Transit (Metrorail/Metromover)) 12 min - 5.2 mi
Government Center (Metromover Brickell Loop - Miami-Dade Transit (Metrorail/Metromover), Metromover Downtown Loop - Miami-Dade Transit (Metrorail/Metromover), Metromover Omni Loop - Miami-Dade Transit (Metrorail/Metromover), Metrorail Green Line - Miami-Dade Transit (Metrorail/Metromover)) 12 min - 5.4 mi
AirportDriveWalkDistance
Miami International 30 min - 15.4 mi
Fort Lauderdale/Hollywood International 41 min - 27.0 mi
Tony Saladrigas 786-378-1850 Fausto Commercial Realty Consultants
Tony Saladrigas 786-378-1850 Fausto Commercial Realty Consultants