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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 Features
County
Miami-Dade County
Section
3
Area
16421
Subdivision
Interior
Cooling
Bedrooms
Floors
Full Baths
Appliances
Heating
Style
Garage Spaces
Construction/Exterior
Stucco
Patio / Deck Description
Exterior
Has a Pool
Possession
Funding
Lot Size in Acres
Water
Public
Sewer
Public Sanitation
Lot Size in Sq. Ft.
13000
Has Waterfront
No
Parking Description
Other
View
Has Garage
No
Roof/Attic
Built-Up
Senior Community
No
Other Utilities
Property Type
Commercial Sale
Pets
Property SubType 2
Income/MultiFamily
Tax Year
2024
Year Built
1920
Tax Amount
$93460
APN
NA
Square Feet Source
NA
Map
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