Multifamily Development Site with
249 Collins Ave Miami Beach, FL 33139
249 Collins Ave, Miami Beach, FL, 33139
$16,000,000
For Sale
$16,000,000
MULTI_FAMILY - Other - Miami Beach, FL
Lot Size0.30 Acres
Days on Market35
Property Features for 249 Collins Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- APN
- 02-42-03-003-0420
- Lot size
- 0.30 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- OCEAN BEACH FL SUB PB 2-38 LOTS 14 & 15 BLK 3 LOT SIZE SITE VALUE OR 12960-3089 0686 1
- Tax Annual Amount
- 93460
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 17
- Building materials
- Stucco
- Roof type
- Built-Up
- Architectural style
- Other
Listing agency
BHHS EWM Realty
(305) 674-4000
Listed by
Ben Brissi · License #3288847
(561) 870-2211
Added: Jun 18 Updated: Jun 30 at 8:31PM Checked: Jul 22 at 4:06AM
MLS# A11893497
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is a multifamily development site totaling approximately 13,000 SF, currently improved with 15 apartments and 2 retail spaces. The combined gross annual income is stated as $467,900, and the current rents are described as below market. The assemblage includes 249 Collins Ave, 255 Collins Ave, and 247 Ocean Ct.
Zoned RPS-3, the listing includes a development feasibility study indicating the opportunity to build up to five stories with 26 residential units and approximately 22,750 SF of buildable area without variances. The remarks also note potential for additional development opportunities by leveraging the Live Local Act or other state, county, and city development bonuses.
For buyers and developers, the asset offers an income-producing existing structure alongside a documented path for redevelopment under the stated feasibility assumptions. The current mixed residential and retail setup may appeal to operators seeking continuity of income while planning for vertical expansion within the RPS-3 framework and the feasibility parameters provided in the study.
Zoned RPS-3, the listing includes a development feasibility study indicating the opportunity to build up to five stories with 26 residential units and approximately 22,750 SF of buildable area without variances. The remarks also note potential for additional development opportunities by leveraging the Live Local Act or other state, county, and city development bonuses.
For buyers and developers, the asset offers an income-producing existing structure alongside a documented path for redevelopment under the stated feasibility assumptions. The current mixed residential and retail setup may appeal to operators seeking continuity of income while planning for vertical expansion within the RPS-3 framework and the feasibility parameters provided in the study.
Key Highlights
- 13,000 SF lot with 3 addresses: 249 Collins Ave, 255 Collins Ave, and 247 Ocean Ct
- Existing improvements include 15 apartments and 2 retail spaces
- Current gross annual income of $467,900 with rents stated to be below market
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Existing 15 apartments and 2 retail spaces sit on a 13,000 SF site with RPS-3 zoning for up to five stories.
Where is this apartment building located?
The property is located at 249 Collins Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $16,000,000.
What are key features of this property?
This property features: 13,000 SF lot with 3 addresses: 249 Collins Ave, 255 Collins Ave, and 247 Ocean Ct; Existing improvements include 15 apartments and 2 retail spaces; Current gross annual income of $467,900 with rents stated to be below market
