249 Collins Ave, Miami Beach FL 33139

For sale Days on market 137

OCEAN BEACH FL SUB [ Residential ]

$16,000,000

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Overview

0.2984 acres

Property Type

Residential

Property Description

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.

Property Details

MLS#

A11889965

Building

OCEAN BEACH FL SUB

Address

249 Collins Ave

City

Miami Beach

State/county

Zip/Postal Code

33139

Area

Ocean Beach Fl Sub

Country

United States

HOA

Assoc Fee

$--

Assoc Fee Pd

Tax Amount

$93,460

Maint Fee

$--

Tax Year

2024

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