• The Collinaire is an 8-unit historically protected Art Deco apartment building that offers families and individuals the comforts of home in the heart of South Beach.
  • The property has 8 fully furnished supreme suites (two bedrooms / two bath extra large suites) for nightly, weekly or monthly rental.
  • The Collinaire is licensed as a short-term rental property and maintains a transient use license.
  • The Collinaire has been completely renovated on the exterior and completely rebuilt on the interior to provide spacious, modern suites.
  • Each suite offers a kitchen, a living room, a dining room, a terrace, and a washer/dryer.
  • All units are fully furnished with all new appliances.
  • The spacious units are the perfect choice for groups or families of up to 6 individuals.
Property Facts
# of units
8
Mix of Units
8 - 2bed/2bath + Living Room, Dining Room, Kitchen, Terrace, Washer/Dryer in each unit
Unit 1
870 sf
Unit 2
989 sf
Unit 3
843 sf
Unit 4
852 sf
Unit 5
870 sf
Unit 6
868 sf
Unit 7
843 sf
Unit 8
852 sf
Total Sq. Ft. of Units
6,987
Average Unit Size
873 Sq. Ft.
Folio #
02-4203-003-0390
Zoning Code
RPS-3
Primary Zoning
3003 MULTI-FAMILY
Floors
2
Actual Area
9,160 Sq.Ft
Lot size
6,500 Sq.Ft
Originally Built
1922
Renovated
2023
Projected Gross Income (Year 1)
$1,147,910
Projected OPEX (Year 1)
$190,960 (prior to managment fee)
Projected NOI (Stabilized Pro Forma)
$956,951
Property Overview

Location:

Located in the heart of South Beach in the exclusive enclave known as South of 5th (SOFI); the most expensive and desirable location in Miami Beach.  The beach is 1 block to the east. Nearby restaurants include Big Pink, Prime 112, Stubborn Seed, Carbone, Joe’s Stone Crab, Fogo de Chao, Pura Vida, and Call Me Gaby.

Transient Use Commercial License:

The building has a historically protected, very lucrative Short-Term Rental / Multi-Purpose license. This special, commercial license is very much coveted and in high demand. The City of Miami Beach no longer allows new transient licenses; therefore, there is a significant legal “Barrier of Entry” preventing any competition from entering and competing against The Collinaire. A very limited amount of buildings in Miami Beach have this transient, commercial license.

The Collinaire can be run as an Apartment Building, a Short-Term Rental, or a Boutique Hotel.  The property has had this license for the past 100 years.

Renovation in 2023:

  • Completely renovated (inside and out) with new flooring, new impact windows, roofing, electrical, plumbing, etc.
  • Totally new and redesigned interiors
  • Fully furnished with premium materials and finishes
  • Meets the City of Miami Beach’s historical, commercial, hotel, and safety standards
  • Completed a 40-year certification in 2022

 

Map
Contact Brokers
Matthew Martinez
Principal
matt@beaconhillpg.com
305.798.2223