855.725.5890
Address531 16Th St, Miami Beach, FL, 33139-7773
Price$2,400,000
- Commercial Sale
- Built in 1947
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 22 years, low fixed annual lease payment for the entirety of the lease term with no escalations! NEW ROOF being installed prior to closing! 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.
Essential Information
- MLS® #A11420681
- Price$2,400,000
- Bathrooms0.00
- Acres0.00
- Year Built1947
- TypeCommercial Sale
- Sub-TypeMulti Family
- StatusActive
Community Information
- Address531 16Th St
- Area32
- CityMiami Beach
- CountyMiami-Dade County
- StateFL
- Zip Code33139-7773
Amenities
- ParkingOn Street
Interior
- # of Stories2
- StoriesTwo
Additional Information
- Date ListedAugust 2nd, 2023
- Days on Website334
Listing Details
- OfficeAvanti Way Commercial
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