249 Collins Ave

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.

0.3 Acres lot

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Thank you for your interest in 249 Collins Ave, Miami Beach, FL 33139. We are reviewing your request and will be in touch shortly!

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Features & Amenities

Area & Lot

Status For Sale
Lot Area0.3 Acres
MLS® IDA11889965
TypeLand
NeighborhoodMiami Beach

Exterior

water SourceMunicipal Water
utilitiesElectricity Connected, Sewer Connected, Water Connected, Electricity Available, Sewer Available, Trash Removal, Water Available
lot featuresBeach Area, City Location, Less Than 1 Acre
sewerPublic Sanitation

Financial

Sales Price$16,000,000
Real Estate Tax $93,460/yr
Zoning 3003

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$16,000,000

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