We had reported back in February that the Runway Inn was heading to auction. Well, we just learned that the property was sold for $7.75 Million. That was significantly higher than the starting bid of $2.1 Million.
The Runway Inn was built in 1950 and has 104 living units including 104 bedrooms and 113 bathrooms. The building has an adjusted area of 29,416 Sq Ft on a 36,600 Sq Ft Lot.
The property is located near NW 36th Street at 656 East Drive, just down the road from Stafford Park and Miami Springs Middle School.
Only time will tell if the new owners will continue to operate the Runway Inn as a low rent hotel or if they will develop the property into something better for the community..