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South Beach, Miami Beach, FL 33139
Property Type
Multi Family
Year Built
1920
Home Style
Detached
Listing courtesy of Ben Brissi of BHHS EWM Realty.
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.
0.3 Acres
Miami Beach
A11893497
South Beach
Multi Family
1920
Detached
Stucco
17
2
Two
1920
3003
South Beach
florida
Other
Public
Total$83,873.18/Month
*The values provided are approximate. For more precise information, please contact a BHS agent who can offer further assistance.
South Beach, Miami Beach, FL, is a lively coastal neighborhood known for its iconic beaches, historic Art Deco architecture, and vibrant social and cultural scene. Expansive sandy shores and clear…
Information is deemed reliable but is not guaranteed and should be independently verified.