249 Collins Ave Miami Beach, FL 33139
Property Features for 249 Collins Ave
General Information
- Property type
- Commercial
- Standard status
- Active
- Lot size
- 0.30 Acres
Building Details
- Year built
- 1920
Source:
Elliman
Listing Agency: BHHS EWM Realty Listing Agent: Ben Brissi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
South of Fifth Development Opportunity
This ultra-rare development opportunity is located South of Fifth. The 13,000 square foot lot includes 249 Collins Ave, 255 Collins Ave, and 247 Ocean Ct. Existing improvements feature 15 apartments and 2 retail spaces, producing a gross annual income of $467,900 with rents below market value. A development feasibility study confirms the potential to build up to 5 stories with 26 residential units and 22,750 square feet of buildable area without variances. There is potential to increase this even more by taking advantage of the Live Local Act or other state, county, and city development bonuses. This is an exceptional chance to create a new project in Miami Beach's most coveted neighborhood, blending immediate income with prime development upside. The zoning is RPS-3.
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Miami Beach
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.13326
- Latitude
- 25.771828
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - 13,000 SF lot with income and development potential.
Where is this commercial land 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.; - Existing improvements feature 15 apartments + 2 retail spaces producing $467,900 gross annually.
