$16,000,000
249 Collins Ave, Miami Beach FL 33139
Residential
13,000 Square Feet lot
181 days on market
About this property
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.
Property Details
Exterior
- Lot Features: Beach Area | City Location | Less Than 1 Acre
- Waterfront: No
Location
- City: Miami Beach
- County: Miami-Dade County
- State: FL
- Road Frontage (Length/Type): 102 Public Road
- Zoning: 3003
Construction
- New Construction: No
- Utilities: Electricity Connected | Sewer Connected | Water Connected | Electricity Available | Sewer Available | Trash Removal | Water Available
- Sewer: Public Sanitation
- Water Source: Municipal Water
Public Info
- Lot Size: 13,000 Square Feet
- APN: 02-42-03-003-0420
Tax Information
- Annual Tax Amount: $93,460
- Tax Year: 2024
Walk Score
84
Very Walkable
84
Very Bikeable
Kevin McCarthy
RACVantage Managing Broker | Commercial Real Estate Advisor