8918 Collins Ave Surfside, FL 33154

This exceptional redevelopment opportunity encompasses four lots totaling 23,850 square feet, situated at 8918 Collins Ave, Surfside, FL 33154. The property includes two existing two-story multifamily buildings, comprising a total of 19 units, currently boasting 100% occupancy and generating an average rent of $1,350 per unit. Built in 1940 and renovated in 2010, these buildings offer immediate income potential while presenting significant upside for redevelopment. The property also features 10 parking spaces. The asking price is $12,000,000, translating to $503.14 per square foot and $631,579 per unit. The site benefits from a prime location, just one block from the beach and prestigious developments such as Arte, The Surf Club Four Seasons Hotel and Residences, Fendi Chateau Residences, and 87 Park. The permitted zoning, H40, allows for multi-family residential uses. Property tax folios include 14-2235-005-0240, 14-2253-005-0190, and 14-2235-005-0230. This is a rare chance to acquire a substantial development site in one of Miami's most desirable neighborhoods. The property is owned by a corporation and is offered for sale by owner.