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.