$16,000,000
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Income/MultiFamily, Commercial Sale
Ultra Rare South of Fifth development opportunity. This 13,000 SF lot includes 249 Collins Ave, 255 Collins Ave & 247 Ocean Ct. Existing improvements feature 15 apartments + 2 retail spaces producing $467,900 gross annually with rents well below market. A development feasibility study confirms the potential to build up to 5 stories with 26 residential units and 22,750 SF of buildable area without variances. Potential to increase this even more by taking advantage of the Live Local Act or other state, county, & city development bonuses. Exceptional chance to create a new project in Miami Beach's most coveted neighborhood, blending immediate income with prime development upside. RPS-3 Zoning.
This income/multifamily home located at 249 Collins Ave, Miami Beach FL 33139 is currently for sale and has been available on Brickellsold for 158 days. This property is listed at $16M. It has N/A beds, N/A bathrooms, and is N/A square feet. It was built in 1920. 249 Collins Ave, Miami Beach FL 33139 is in Miami Beach county Miami-Dade County.
