727 Collins Ave 727 Collins Avenue, a historic landmark asset delivering institutional-quality, low-management income on Miami Beach`s lower Collins Avenue corridor. The offering pairs a ten-year master hospitality lease across floors two through four with a fully vacant ground-floor retail footprint — immediate contractual cash flow with a defined path to yield expansion. Originally constructed in 1930 as the London Arms Hotel, the four-story, 23,356-square-foot building was fully renovated and holds 25 immaculate residential/hospitality units and approximately 4,800 square feet of clear-span ground-floor retail. Floors two through four are encumbered by a ten-year master hospitality lease commencing January 2026, generating $90,000 monthly — $1,080,000 annually — with 9.4 years of term remaining. The operator covers all core building utilities and operating expenses, leaving ownership responsible strictly for real estate taxes and insurance. That structure delivers an in-place NOI of $966,000 and a 4.83% going-in cap rate with effectively no management burden. The ground-floor retail is delivered vacant and unpriced; leased at a conservative $50 per square foot NN, it adds $240,000 annually and lifts NOI to $1,229,429 — a 6.15% stabilized cap rate. Zoned MXE, the asset sits in a submarket with virtually zero net new commercial supply, where replacement of a landmarked, income-producing building of this profile is not achievable.