Multifamily Development Site with
For Sale
$16,000,000
249 Collins Ave, Miami Beach, FL 33139
MULTI_FAMILY - Other - Miami Beach, FL
Property SizeContact for details
Lot Size0.30 Acres
Days on Market60
Property Features for 249 Collins Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
3003
Subdivision
42
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
Legal Description
OCEAN BEACH FL SUB PB 2-38 LOTS 14 & 15 BLK 3 LOT SIZE SITE VALUE OR 12960-3089 0686 1
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
Changed: Jun 30
Last Checked: Aug 16 at 9:06PM
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
Current Use
Lease Details
15
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,940
Businesses Nearby
Explore this area
Business Placement
Demographics for 33139, FL
36,286
Population
30,166
Households
1.2
Avg Household Size
43
Median Age
53%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
12,959
Density / Sq Mi
$63,368
Median Household Income
$48,608
Median Earnings
$1,745
Median Rent
$480,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
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
