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    441 Collins Ave Miami Beach, FL 33139

    For Sale
    $2,994,000

    6-Unit Condo Redevelopment Opportunity

    Property size:
    2,580 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional investment opportunity presents six out of thirty condo units at 441 Collins Ave, Miami Beach, Florida, 33139. The assemblage totals 2,580 square feet, with each unit offering either 420 or 450 rentable square feet. Currently boasting 100% occupancy (as of January 31, 2023), this Class B property offers significant upside potential. The units are situated on a 19,500 square foot lot, zoned RPS-3, and benefit from a prime location at the last vehicular intersection before the beach on Collins Avenue and 5th Street – a high-traffic area with exceptional visibility. Built in 1965, the property presents a compelling redevelopment opportunity. The current zoning allows for short-term rentals, a rare characteristic in the "South of Fifth" neighborhood. A full redevelopment could yield a substantial increase in floor area, potentially accommodating 70-75 rooms, 3,500 square feet of retail space, and 35 parking spaces. The property's proximity to the recently renovated Miami Beach Convention Center and numerous ongoing developments further enhances its long-term value. The asking price is $2,994,000 ($499,000 per unit), reflecting the unique potential of this assemblage. The property features one parking space per unit and is offered fee simple. The APNs are 02-4203-030-0020, 02-4203-030-0050, 02-4203-030-0070, 02-4203-030-0100, 02-4203-030-0130, and 02-4203-030-0190. This is a distressed sale. The building is a two-story structure with six units. This is a condo buyout opportunity.

    Property Features for 441 Collins Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,580 SF
    Class
    B

    Building Details

    Year Built
    1965
    Buildings
    1
    Stories
    2
    Units
    6

    HighLights

    • Prime South Beach location at 5th Street and Collins Avenue.
    • Acquisition opportunity: six of thirty condo units.
    • Unique South of Fifth short‑term rental zoning.
    • Highly visible corner location, last vehicular access point before Ocean Drive.
    • One block from pristine beaches.
    • Convenient proximity to the renovated Miami Beach Convention Center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Dental Office Spa & Massage 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
    -80.13302172
    Latitude
    25.77441139

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    FAQs

    What type of property is this?
    Multifamily property - 6-Unit Condo Redevelopment Opportunity
    Where is this multifamily property located?
    The property is located at 441 Collins Ave Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $2,994,000.
    What are key features of this property?
    This property features: Prime South Beach location at 5th Street and Collins Avenue.; Acquisition opportunity: six of thirty condo units.; Unique South of Fifth short-term rental zoning.
    (305) 209-8866
    Request Owner's contact information
    441 Collins Ave 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
    441 Collins Ave Miami Beach, FL 33139
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