1220 SW 8th St | Miami, FL 33135
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1220 SW 8th St
Miami, FL 33135
Land For Sale · 0.55 AC
Investment Highlights
- Formerly the Wagon Wheel Motel Located in Calle Ocho’s Art & Entertainment District Consisting of 16 Rooms and over 7,000 SF of Retail
- 24,050 SF of Land Zoned T6-8-O & T4-R, Allowing for EIGHT STORIES in Height & 61 Multifamily Units / 122 Hotel Keys by Right
- Three Blocks from the World’s Famous Ball and Chain & Café La Trova | 1 Mile from Brickell - the Financial District of Miami
- Located within the Most Active & Sought-after Blocks of SW 8th Street / Calle Ocho – There's an Estimated 3 Million Tourists who Visit Little Havana
- Under One ownership for the past 100 years
- Little Havana is One of the Most Densely Populated Regions of Miami-Dade County with over 300,000 Residents within a 3-mile Radius
Executive Summary
Marcus & Millichap is pleased to present the sale of 1220 SW 8th St, Miami, FL 33130. This property consists of 9,207 SF of gross leasable area sitting on a 24,050 SF lot.
The subject property is situated in the heart of Little Havana in the world-famous Art & Entertainment District. The current zoning allows for a 61-unit multifamily building or a 122 key hotel. This property was home to the Iconic Wagon Wheel Motel which was constructed in the 1950’s and was once Calle Ocho’s crown jewel of hospitality. Exposed to over 22,000 vehicles per day and over 3 million tourists annually, Little Havana’s Art & Entertainment is one of the best tourist attractions in all of Miami. This property allows for a unique redevelopment opportunity to return the motel to its former glory, or to construct a new building that would stand out as one of the few residential buildings in this highly desirable corridor.
This property consists of 5 retail units and 17 motel units. With income in place, investors can cash flow while awaiting permits for redevelopment.
The subject property is centrally located near Miami’s most desirable neighborhoods such as Coral Gables, Brickell, Coconut Grove, and Downtown Miami. It is 1.5 miles from Brickell City Center and is walking distance from major tourist attractions in on Calle Ocho such as Domino Park, Café La Trova, and Ball & Chain Night Club.
The subject property is situated in the heart of Little Havana in the world-famous Art & Entertainment District. The current zoning allows for a 61-unit multifamily building or a 122 key hotel. This property was home to the Iconic Wagon Wheel Motel which was constructed in the 1950’s and was once Calle Ocho’s crown jewel of hospitality. Exposed to over 22,000 vehicles per day and over 3 million tourists annually, Little Havana’s Art & Entertainment is one of the best tourist attractions in all of Miami. This property allows for a unique redevelopment opportunity to return the motel to its former glory, or to construct a new building that would stand out as one of the few residential buildings in this highly desirable corridor.
This property consists of 5 retail units and 17 motel units. With income in place, investors can cash flow while awaiting permits for redevelopment.
The subject property is centrally located near Miami’s most desirable neighborhoods such as Coral Gables, Brickell, Coconut Grove, and Downtown Miami. It is 1.5 miles from Brickell City Center and is walking distance from major tourist attractions in on Calle Ocho such as Domino Park, Café La Trova, and Ball & Chain Night Club.
PROPERTY FACTS
1 Lot Available
Lot
| Price | $6,300,000 | Lot Size | 0.55 AC |
| Price Per AC | $11,410,728 |
| Price | $6,300,000 |
| Price Per AC | $11,410,728 |
| Lot Size | 0.55 AC |
This property consists of 5 retail units and 17 motel units. With income in place, investors can cash flow while awaiting permits for redevelopment.
PROPERTY TAXES
| Parcel Number | 01-4111-013-0170 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,441,613 |
PROPERTY TAXES
Parcel Number
01-4111-013-0170
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,441,613
zoning
| Zoning Code | T6-8-O | T4-R (Mixed-Use) |
| T6-8-O | T4-R (Mixed-Use) |
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