plaza meridien hotel

Plaza Hotel 418 -‐426 Meridian Ave – South Beach Located SW Corner of 5th st and Meridian Ave Miami Beach, Fl. 33141 Property consists of 2 adjacent parcels improved with a rooming house and 2 apartment buildings. Properties are zoned commercial mixed use. The #426 building has historical classifications and the facades would need to be maintained or replicated. The property was approved by the City for a hotel as shown in the enclosed renderings and plans. The property can be converted to retail, hotel, residential or office or any combination 418 Meridian Ave Built 1953 Land Size: 50 x 140 = 7000 sf Bldg Size: 1 story bldg. – 2302 sf 5 -‐ 1/1 bath units of 400 sf each – each unit pays $600 /month

2 story bldg. -‐ 2045 sf 1 1/1 bath 5 studio apartments

426 Meridian Ave (completely vacant and boarded) Built 1925 Land Size: 50 x 140 = 7000 sf Bldg Size: 3 story bldg. -‐ 16563 -‐ approximate 215 sf per unit 76 units – Hotel Rooms with only a sink and common area bathrooms on each floor his / hers with toilet rooms and showers. Property has 3 stairwells, front , rear and center. 1st floor – 20 units 2nd floor – 27 units 3rd floor -‐ 29 units

Total Land Size: 14,000 sf 100x140 – 140 feet on 5th st

Total Bldg Size: 20,910

3/24/12 3:18 PMShulman + Associates

Page 1 of 1http://www.shulman-design.com/swf/sa_system.html

Introduction Improved Commercial Land, 418-426 Meridian Avenue, Miami Beach, FL

Waronker & Rosen, Inc. vvvv Real Estate Appraisers & Consultants Page 15

MIAMI-DADE COUNTY MAP



AERIAL PHOTOGRAPHS



PLAT MAP

Two-way, average daily traffic volumes.Traffic Count data © 2010 by TrafficMetrix. All rights reserved.

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DEMOGRAPHIC ANALYSIS

CitibankMIAMI BEACH, FL

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services ofFlorida © 2012 Marcus & Millichap T0240188

TRAFFIC COUNTS

Geography: 5 Miles

Population

In 2011, the population in your selected geography was 186,239 . The population has changed by 147.47% since 2000. It is

estimated that the population in your area will be 203,318 five years from now, which represents a change of 9.17% from the current

year. The current population is 53.2% male and 46.8% female. The median age of the population in your area is 40.0 , compare this

to the U.S. average which is 36.9. The population density in your area is 2,374.87 people per square mile.

Households

There are currently 91,984 households in your selected geography. The number of households has changed by 213.89% since 2000.

It is estimated that the number of households in your area will be 102,307 five years from now, which represents a change of 11.22%

from the current year. The average household size in your area is 1.96 persons.

Income

In 2011, the median household income for your selected geography is $41,289 , compare this to the U.S. average which is currently

$53,620. The median household income for your area has changed by 99.89% since 2000. It is estimated that the median household

income in your area will be $44,858 five years from now, which represents a change of 8.64% from the current year.

The current year per capita income in your area is $38,247 , compare this to the U.S. average, which is $28,713. The current year

average household income in your area is $73,701 , compare this to the U.S. average which is $73,458.

Race & Ethnicity

The current year racial makeup of your selected area is as follows: 77.76% White, 12.47% African American, 0.36% Native American

and 0.88% Asian/Pacific Islander. Compare these to U.S. averages which are: 72.40% White, 12.60% African American, 0.95%

Native American and 4.93% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People of Hispanic origin make up 59.38% of the current year

population in your selected area. Compare this to the U.S. average of 16.90%.

Housing

The median housing value in your area was $172,310 in 2000, compare this to the U.S. average of $110,796 for the same year. In

2000, there were 7,744 owner occupied housing units in your area and there were 21,561 renter occupied housing units in your area.

The median rent at the time was $453 .

Employment

In 2011, there are 185,711 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed

that 48.5% of employees are employed in white-collar occupations in this geography, and 51.5% are employed in blue-collar

occupations. In 2011, unemployment in this area is 9.08% . In 2000, the median time traveled to work was 24.4 minutes.

Demographic data © 2010 by Experian/Applied Geographic Solutions.

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SUMMARY REPORT

1 Mile 3 Miles 5 Miles

1990 Population 2,632 8,388 81,160

2000 Population 2,409 7,958 75,256

2010 Population 26,407 50,436 181,289

2011 Population 27,107 51,820 186,239

2016 Population 29,489 54,931 203,318

1990 Households 1,474 4,173 29,861

2000 Households 1,333 3,933 29,305

2010 Households 16,303 29,330 89,168

2011 Households 16,764 30,280 91,984

2016 Households 18,500 32,675 102,307

2011 Average Household Size 1.59 1.68 1.96

2011 Daytime Population 19,906 46,942 185,711

1990 Median Housing Value $297,991 $264,905 $101,911

2000 Median Housing Value $229,859 $455,973 $172,310

2000 Owner Occupied Housing Units 25.15% 43.27% 22.45%

2000 Renter Occupied Housing Units 36.56% 29.96% 62.50%

2000 Vacant 38.30% 26.77% 15.05%



2011 Vacant 27.19% 28.75% 25.94%



2016 Vacant 26.80% 28.50% 26.01%

$ 0 - $14,999 21.9% 17.9% 21.7%

$ 15,000 - $24,999 12.3% 11.4% 12.1%

$ 25,000 - $34,999 11.1% 9.3% 10.5%

$ 35,000 - $49,999 14.8% 14.4% 12.7%

$ 50,000 - $74,999 13.1% 12.6% 13.0%

$ 75,000 - $99,999 7.0% 9.9% 8.5%

$100,000 - $124,999 5.3% 7.3% 7.0%

$125,000 - $149,999 3.1% 3.9% 3.6%

$150,000 - $199,999 4.7% 4.9% 4.4%

$200,000 - $249,999 1.8% 2.1% 1.7%

$250,000 + 5.0% 6.5% 4.7%

2011 Median Household Income $40,137 $46,431 $41,289

2011 Per Capita Income $46,933 $52,965 $38,247

2011 Average Household Income $72,896 $86,567 $73,701

Demographic data © 2010 by Experian/Applied Geographic Solutions.

20




DEMOGRAPHIC REPORT

THE SEA SPRAY Miami Beach, 2010

Sinuous addition to

historic building providing

additional guest rooms

and private rooftop

terraces.

Perforated metal balconies

connecting the new building

with the historic.

New courtyard creates

semi-private space for

hotel guests.

Transparent street-level

restaurant

Reuse of historic

apartment building

THE LOOK INN Miami Beach, 2009 AIA MIAMI DESIGN AWARD 2009

21

plaza meridien hotel

Documents

meridian ave miami beach

sf bldg size

meridian avenue

commercial land

units total land size

meridian ave south beach

sf 100x140

units hotel rooms