Remarks

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 the City of Miami for a 17-story, 163-room upscale hotel. Alternatively, the property can be delivered with a lease from a Flag Hotel Operator with a Corporate guarantee. Sale includes approved plans, demolition permits, + Master permits, which are in the final stages, allowing for quick project initiation. The property is entitled to an Ad Valorem Exemption and the Federal Historic Rehabilitation Tax Credit due to its historic designation. Great opportunity to develop a luxury hotel in Downtown Miami that's fast-tracked with approved plans, demo permits + tax credits.

Details

MLS#: A11723637
Price: $18,500,000

Style: Hotel Motel
Year Built: 1927

County: Miami-Dade
Tax Fee: 90162