531 16th Street,Miami Beach, FL 33139
Miami Beach, FL 33139
Description
Unique opportunity to acquire this Land Lease with excellent income-producing 14-unit multifamily building in the heart of South Beach. Building offers a healthy unit mix, fully rented, low expenses, quality long-term tenants. Favorable land lease structure expiring in 20 years, low fixed annual lease payment for the entirety of the lease term with no escalations! NEW ROOF! Completed December 2024. Great cap rate in a strong rental market with upside on rents, financing opportunities available. Located in the heart of South Beach and the historic Art Deco District, ideally situated just steps away from the world-famous Lincoln Road and its promenade of 200+ retail shops, restaurant and cafes. Building is well-kept and well-managed. Financials available upon request.
Details
| MLS # | A11975379 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1947 |
| Days On Site | 198 |
| Listing Provided By | Avanti Way Commercial | Fernando Arencibia |
Features
| SQ Feet | 10,820 |
|---|---|
| Zoning | 3900 |
| Acreage | 0.18 |
Parking
| Parking Features | On Street |
|---|
Area Information
| State | FL |
|---|---|
| County | Miami Dade |
| City | Miami Beach |
| Zip Code | 33139 |
| Area | 2320 |
| Listing VS Median (in 33139) | |
Price: $1,700,000 low | high Med: $159,500 sqft: 10,820 low | high Med: 8,116 $ / sqft: $157 low | high Med: $20 On site: 198 low | high Med: 144 | |
Market Activity 33139
Request a showing
Request a showing
Contact
Learn More About This Property
| State | FL |
|---|---|
| County | Miami Dade |
| City | Miami Beach |
| Zip Code | 33139 |
| Area | 2320 |
| Listing VS Median (in 33139) | |
Price: $1,700,000 low | high Med: $159,500 sqft: 10,820 low | high Med: 8,116 $ / sqft: $157 low | high Med: $20 On site: 198 low | high Med: 144 | |