South Beach Historic Landmark | 10-Yr Master Lease + Value-Add Ground Retail

The four-story asset is structured to deliver baseline cash flow alongside immediate value-add upside. Floors 2 through 4 are encumbered by a 10-year master hospitality lease initiated in January, generating $90,000 in monthly base rent ($1,080,000 annually). The operator covers all core building utility and operational expenses—including water, sewer, power, and maintenance—leaving the landlord responsible strictly for real estate taxes ($90,000) and property insurance ($24,000).

At the $20,000,000 offering price, the upper-floor income delivers an immediate, low-management Net Operating Income of $966,000, translating to a baseline 4.83% Cap Rate. Absorbing or re-tenanting the currently vacant ground-floor retail footprint provides a clear path to driving total yield in a barrier-island submarket with zero net new commercial supply.