560 Michigan Ave, Miami Beach FL 33139
Income/MultiFamily in Miami Beach
$5,800,000
Listing courtesy of The Corcoran Group; Frank Euler. Information from the Southeast Florida Multiple Listing Service is deemed reliable but is not guaranteed accurate.
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Income/MultiFamily, Commercial Sale
Details
Overview
Description
This income producing property includes two renovated buildings in Miami Beach with furnished one & two bedroom apartments, licensed for short term rentals and currently leased on an NNN basis to an operating company. A future owner can choose to keep the operating company in place, enjoying steady income not subject to occupancy fluctuations, or instead operate under own management. The remodeled 9 units offer fully equipped kitchens & bathrooms as well as central AC. The property consists of two separate folios and is located on a double corner lot at 6th Street and Michigan Avenue in the heart of South Beach, close to the 5th Street Mall and the new Five Park residential tower & City park. Ocean Drive, the beach as well as the exclusive South of Fifth neighborhood are just blocks away, making this an extremely attractive location for visitors and short term tenants. Zoning is CPS2 commercial - residential mix used - FAR 2,which allows further development up to 20,000 Sq/Ft. Please ask us for proposed design renderings.
This income/multifamily home located at 560 Michigan Ave, Miami Beach FL 33139 is currently for sale and has been available on Brickellsold for 1 day. This property is listed at $6M. It has N/A beds, N/A bathrooms, and is N/A square feet. It was built in 1937. 560 Michigan Ave, Miami Beach FL 33139 is in Miami Beach county Miami-Dade County.
Interior
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Property
- Parking Features: Assigned
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Construction
- Year Built: 1937
Community & HOA
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