25
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$20,000,000
Est. payment /mo
43,265 SqFt
Active
139 NE 1st St Miami, FL 33132
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UPDATED:
10/29/2024 12:00 AM
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Square Footage 43,265 sqft
Price per Sqft $462
MLS Listing ID A11683861
HOA Y/N No
Year Built 1927
Annual Tax Amount $90,162
Lot Size 7,500 Sqft
Property Description
Compass Commercial presents the Historic "Dade-Commonwealth Building," an existing 43,265sf office building with rare in-place approvals from the Historic Preservation Board and City of Miami for a 17-story, 163-room upscale hotel. Alternatively, the existing structure can be repositioned to a 60-key hotel. Sale includes approved demolition permits + Master permits, which are in the final stages, allowing for quick project initiation. Due to its historic designation, the property is entitled to an Ad Valorem Exemption and the Federal Historic Rehabilitation Tax Credit. Great opportunity to develop a luxury hotel in Downtown Miami that's fast-tracked with approved plans, demo permits + tax credits.
Location
State FL
County Miami-dade
Area 41
Others
Tax ID 01-01-10-040-1100
Acceptable Financing Cash, Owner May Carry
Listing Terms Cash, Owner May Carry
Listed by Compass Florida, LLC
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