249 Collins Ave, Miami Beach, FL 33139

$16,000,000

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List Price: $16,000,000
MLS#: A11889965
Lot Size: 13,000
Subtype: Residential
County: Miami-Dade
Community: Ocean Beach Fl Sub
Subdivision: Ocean Beach Fl Sub

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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.

954-557-5993

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Additional Information

Status Label: ACTIVE
Lot Description: Beach Area, City Location, Less Than 1 Acre
Taxes: $93,460
Utilities: Electricity Connected, Sewer Connected, Water Connected, Electricity Available, Sewer Available, Trash Removal, Water Available
Acres: 0.30