Property
| Ownership: | For Sale |
|---|---|
| Type: | Residential |
| Pets: | Pets No |
| Lot Size: | 0.30 Acres |
FinancialsPrice:$16,000,000Annual Taxes:$93,460
Price:$16,000,000
Annual Taxes:$93,460
Listing Courtesy of BHHS EWM Realty
DescriptionUltra 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.Virtual Tour: https://www.propertypanorama.com/instaview/mia/A11889965Amenities- ElectricityAvailable
- LessThanOneAcre
- SewerAvailable
- TrashCollection
- WaterAvailable
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.
Virtual Tour: https://www.propertypanorama.com/instaview/mia/A11889965
- ElectricityAvailable
- LessThanOneAcre
- SewerAvailable
- TrashCollection
- WaterAvailable
Ultra Rare South of Fifth development opportunity !
DescriptionUltra 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.Virtual Tour: https://www.propertypanorama.com/instaview/mia/A11889965Amenities- ElectricityAvailable
- LessThanOneAcre
- SewerAvailable
- TrashCollection
- WaterAvailable
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.
Virtual Tour: https://www.propertypanorama.com/instaview/mia/A11889965
- ElectricityAvailable
- LessThanOneAcre
- SewerAvailable
- TrashCollection
- WaterAvailable
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
