See all 28 photos
28 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$16,000,000
Est. payment /mo
0.3 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Residential
Listing Status Active
Purchase Type For Sale
Subdivision Ocean Beach Fl Sub
MLS Listing ID A11889965
HOA Y/N No
Annual Tax Amount $93,460
Tax Year 2024
Lot Size 0.298 Acres
Acres 0.2984
Lot Dimensions 102x129
Property Sub-Type Residential
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.
Location
State FL
County Miami-dade
Community Ocean Beach Fl Sub
Area 32
Exterior
Utilities Available Electricity Available, Sewer Available, Trash Collection, Water Available
Present Use Other
Private Pool Yes
Building
Lot Description <1 Acre
Sewer Public Sewer
Water Public
Others
Tax ID 02-42-03-003-0420
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11889965
Read Less Info
Listed by BHHS EWM Realty
Learn More About LPT Realty
