Property Details
| Asking Price | $1,700,000 |
|---|---|
| Price per SqFt | — |
| Maintenance fee | Inquire |
| Property Taxes | Not yet assessed |
| Interior Space | — |
| Beds/Baths | —/— |
| Year Built | 1947 |
| Lot Size | 0.18 acres |
| MLS # | A11975379 |
Estimated Costs
An estimate of condo or HOA fees and property taxes
From the listing
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.
Listed by Avanti Way Commercial
Sales History for This Home · 531 16th Street, Miami Beach, FL 33139
| Sale ⇅ | Sold Price ⇅ | Closed Date ⇅ |
|---|---|---|
| A11191442 | $1,000,000 | 8/9/22 |
Listed by Avanti Way Commercial. Mark Zilbert of ONE Sotheby's International Realty is a cooperating (transaction) broker and helps buyers find properties in Miami Beach and throughout South Florida.
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Location
The curated data and calculated data for this property and its surrounding condo units and homes is based solely on data we have extracted from the MLS. There may be unpublished, private, quit claim and other property offerings and transfers that do not appear here, which may affect how a buyer or seller perceives property values. Always conduct proper due diligence when considering buying or selling property.