Overview

$55,000,000 PROJECTED COST

$5,250,000 PROJECTED NET REVENUES PER YEAR STARTING 2024

MIAMI BEACH, FLORIDA

90 KEYS 5 FLOORS

HOSPITALITY DEVELOPMENT PROJECT

$17,500,000 ACQUISITION PRICE

CURRENT 40 KEYS CONDO HOTEL SUITES

36,000 SF / 15,000 SF LOT

+

APPROVED PLANS FOR 90 KEYS 5 FLOORS

75,000SF (15,000SF PER FLOOR x 5 FLOORS) x $500 PER SF

=

$37,500,00 PROJECTED GROUND UP DEVELOPMENT COST

==

$55,000,000 PROJECTED COST

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PROJECTED NET REVENUES PER YEAR STARTING 2024

90 KEYS x $150 AVERAGE ROOM CHARGE x 70% OCCUPANCY x 365

=

$3,500,000 PROJECTED PER YEAR GROSS ROOM REVENUES

+

$1,825,000 = 200 MEALS PER DAY x $25 AVERAGE x 365

+

$1,175,000 = 200 DRINKS PER DAY x $15 x ER YEAR

===

$6,500,000 PROJECTED GROSS REVENUES PER YEAR STARTING 2024

$2,000,000 ESTIMATED EXPENSES PER YEAR (30%)

====

$4,500,000

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SUBJECT TO CHANGE

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DESIGN & DEVELOPMENT GLOBALLY

Details

Features
  • Interior Corridor
  • Exterior Corridor
  • Mixed Corridor
  • Breakfast Room
  • Restaurant
  • Lounge/Bar
  • Business Center
  • Indoor Pool
  • Indoor Hot Tub
  • Outdoor Pool
  • Outdoor Hot Tub
  • Fitness Center
  • Elevator
  • Guest Laundry
  • Meeting Space
  • Living Quarters

Financial

Posted By
REO
Affiliation
Independent
# of Units
90
Room Revenue
$ 3,500,000.00
F&B Income
$ 3,000,000.00
Occupancy %
70%