MIAMI BEACH HOTEL with a triple net tenant. The newly renovated Hotel Vela Rouge offers 27 guest rooms, including 4 junior suites, one block from the ocean in popular North Beach. The property was completely renovated in 2016 with all new plumbing and electrical systems, new roof, and impact windows and doors throughout. The building has been re-certified to 2026. Conveniently located one block from Collins Ave (AIA), steps from shops, restaurants and entertainment. TC-1 town center core zoning allows for hotel, retail, restaurant and other commercial uses. The property has been leased to a triple net tenant offering investors a cap rate of over 6%. Flexible buyout clause for an operator.