Miami Beach - Beach Property For Sale #2417166

We are Pleased to present the 21-room Sorrento Villas Hotel, located in Miami Beach, Fl, two blocks west of N. Beach and a few blocks away from the future re-development of North Beach Town Center. The Sorrento Villas is currently operating below competitive set ADR and Occupancy. The Hotel will be offered unencumbered by management, allowing a new operator to employ more aggressive sales, marketing, and revenue management techniques. Location of zoning change is between Indian Creek Dr, Dickens Ave., 72nd St., Collins Ave., and 69th St. o Developer plans to build two 220-ft-tall buildings at 71st St. and Abbot Ave. that will be geared toward recent college graduates. o The zoning also allows to build small hotel rooms and apartment units in order to encourage market-rate affordable units.