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    249 Collins Ave Miami Beach, FL 33139

    For Sale
    $16,000,000

    Multi Family, Detached - Miami Beach, FL

    Type:Single Family Attached
    Days on Market:
    58
    Last Refresh:
    Dec 6 at 5:06 pm

    Property Features for 249 Collins Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Single Family Attached
    Standard status
    Active
    Zoning
    3003
    APN
    02-42-03-003-0420
    Parking features
    Other

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1920
    Number of units
    17
    Building materials
    Stucco
    Architectural style
    Other

    BHHS EWM Realty (305) 960-2587 [email protected]

    Listing agent Ben Brissi (305) 674-4050 License #3288847

    Listing date Oct 10, 2025

    MLS# A11893497 Listing URL

    Copyright © 2025 Miami Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Miami Beach Development Opportunity

    This offering presents a rare development opportunity in the South of Fifth neighborhood. The 13,000 square foot lot, encompassing 249 Collins Ave, 255 Collins Ave, and 247 Ocean Ct, currently features 15 apartments and 2 retail spaces. These existing improvements generate a gross annual income of $467,900, with rents below market value. A development feasibility study indicates the potential to construct a building of up to 5 stories, accommodating 26 residential units and 22,750 square feet of buildable area without requiring variances. Further development potential exists through the Live Local Act or other state, county, and city development bonuses. This property offers an exceptional opportunity to create a new project in a sought-after Miami Beach neighborhood, combining immediate income with significant development upside.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Realty agency Spa & Massage Dental Office Restaurant Hair Salon Nail Salon Building Supply Daycare Center Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.13326
    Latitude
    25.771828

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    FAQs

    What type of property is this?
    Apartment building - Rare South of Fifth development opportunity with income and upside.
    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: - Ultra rare South of Fifth development opportunity on a 13,000 SF lot.; - Development feasibility study confirms potential to build up to 5 stories with 26 residential units and 22,750 SF of buildable area without variances.; - Existing improvements feature 15 apartments + 2 retail spaces producing $467,900 gross annually.
    (305) 674-4050
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    249 Collins Ave Miami Beach, FL 33139
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    Miami Beach, FL 33139
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    249 Collins Ave Miami Beach, FL 33139
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