249 Collins Ave, Miami Beach, FL
0 bd · 0 ba · 0 sqft Land listed at $16,000,000 in the South Beach neighborhood.
About this home
Ultra Rare South of Fifth development opportunity! This 13,000 SF lot includes 249 Collins Ave, 255 Collins Ave & 247 Ocean Ct. Existing improvements feature 15 apartments + 2 retail spaces producing $467,900 gross annually with rents well below market. A development feasibility study confirms the potential to build up to 5 stories with 26 residential units and 22,750 SF of buildable area without variances. Potential to increase this even more by taking advantage of the Live Local Act or other state, county, & city development bonuses. Exceptional chance to create a new project in Miami Beach's most coveted neighborhood, blending immediate income with prime development upside. RPS-3 Zoning.
Property details
- Price
- $16,000,000
- Bedrooms
- 0
- Bathrooms
- 0
- Lot size
- 12,998 sqft
- Type
- Land
- Days on market
- 204
- Est. property tax
- $137,600/yr · $11,467/mo · 0.86% FL avg
- Last sold
- $160,000 · Jul 1986
Estimated monthly payment
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Location
This home is located in Miami Beach, FL, in the South Florida area. Browse more Miami Beach listings on the Miami Beach market page or explore the full Miami Beach market report.
Home Intelligence
Neighborhood (zip 33139)
This neighborhood is primarily renter-occupied (32% owner-occupied). Median age is 41.7; 29% hold a bachelor's degree; median household income is $60,971.
- Median income
- $60,971
- Median age
- 41.7
- Owner-occupied
- 31.5%
- Bachelor's degree
- 29.1%
- Census median home value
- $476,000
Source: US Census Bureau American Community Survey 5-year estimates.
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