249 COLLINS AVE, Miami Beach
$16,000,000 USD
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| Address | 249 COLLINS AVE, Miami Beach |
| Type of Property | Income / MultiFamily |
| Business Location | Central Business District,City Location |
| Property Style | Income Non-Waterfront |
| Price | $16,000,000 |
| Property Status | Active |
| MLS Number | A11893497 |
| Property Size | 13000 |
| Lot Size | 13000 |
| Year Built | 1920 |
| Folio Number | 02-42-03-003-0420 |
| Zoning Information | 3003 |
| Days on Market | 175 |
Detailed Description: Ultra Rare South of Fifth development opportunity. This 13,000 sq.ft lot includes 249 Collins Ave, 255 Collins Ave and 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 sq.ft of buildable area without variances. Potential to increase this even more by taking advantage of the Live Local Act or other state, county, and 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.
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Address Information
| State | Florida |
| City | Miami Beach |
| County | Miami-Dade County |
| Zip Code | 33139 |
| Address | 249 COLLINS AVE |
| Business Location | Central Business District,City Location |
| Section | 3 |
Financial Information
| Price | $16,000,000 |
| Price per Foot | $0 |
| Folio Number | 02-42-03-003-0420 |
| Tax Amount | $93,460 |
| Tax Year | 2024 |
| Possession Information | Funding |
Full Descriptions
| Detailed Description | Ultra Rare South of Fifth development opportunity. This 13,000 sq.ft lot includes 249 Collins Ave, 255 Collins Ave and 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 sq.ft of buildable area without variances. Potential to increase this even more by taking advantage of the Live Local Act or other state, county, and 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. |
| Year Built Description | Resale |
| Roof Description | Built-Up |
| Water Description | Public |
| Sewer Description | Public Sanitation |
| Parking Description | Other |
Property parameters
| Living Area | 13000 |
| Lot Size | 13000 |
| Total Acreage | 0.000 |
| Zoning Information | 3003 |
| Maximum Leasable Size | 13000 |
| Year Built | 1920 |
| Type of Property | Income / MultiFamily |
| Style | Income Non-Waterfront |
| Construction Type | Stucco |
| Stories Number | 2 |
| Listed with | BHHS EWM Realty |