$16,000,000
Miami Beach, FL 33139
MLS# A11893497
16421 sqft
1 / 28
Property Description
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.
Details
Maps
Contract Information
Comp Sale YN: No
Listing Date: 2025-10-10
Status: Active
Original List Price: 16000000
List Price: $16,000,000
Current Price: $16,000,000
Location and Legal
County Or Parish: Miami-Dade
County Parish Name: Miami-Dade
City Name: Miami Beach
Municipal Code: 2
Postal Code: 33139
Subdivision Number: 3
Flood Zone: AE
Country: United States
Street Number: 249
Street Name: Collins
Street Suffix: Avenue
State Or Province: FL
Area: 2420
Parcel Number: 0242030030420
Zoning: 3003
General Property Information
Number Of Buildings: 1
Price Per Unit: 0
Occupant Type: Tenant
Lot Size Area: 13000
Stories Total: 2
Property Sub Type: Multi Family
Building Area Main: 16421
Year Built: 1920
Lot Size Acres: 0.3
Office/Member Information
DXORIGMLSID: SEF
Parking Features
Other: 1
Property Condition
Resale: 1
Short Sale Details
Short Sale Addendum: No
Structure Type
Retail: 1
Location of Property
Central Business District: 1
City Location: 1
Possession
Negotiable: 1
Sewer
Public Sewer: 1
Building and Property Details
# Of Tenants: 17
Improvement Height: 2 Stories
Building Features
Free Standing: 1
Business Type
Retail: 1
Sale Includes
Building: 1
Land: 1
Construction Materials
Stucco: 1
Listing Terms
Cash: 1
Conventional: 1
Roof
Built-Up: 1
Security Features
Security Fence: 1
Water Source
Public: 1
Income and Expenses
Occupancy Percentage: 100
Showing Requirements
Call Listing Agent: 1
Price Calculations
Current Price To SqFt: 974.36
Section Details
Parcel Number MLX: 0420
Acreage Description
1/4 To Less Than 1/2 Acre Lot: 1
Financial Information
Tax Annual Amount: 93460
Tax Year: 2024
Tax Legal Description: OCEAN BEACH FL SUB PB 2-38 LOTS 14 & 15 BLK 3 LOT SIZE SITE VALUE OR 12960-3089 0686 1
Status Change Information
Major Change Timestamp: 2025-10-10T17:48:33Z
Major Change Type: New Listing
Status Change Date: 2025-10-10
Originating Details
Originating System Key: 421653327
Originating System ID: M00000151
Property Features
Building Features: Free Standing
Business Type: Retail
Location of Property: Central Business District; City Location
Parking Features: Other
Possession: Negotiable
Property Condition: Resale
Sale Includes: Building; Land
Construction Materials: Stucco
Listing Terms: Cash; Conventional
Roof: Built-Up
Security Features: Security Fence
Sewer: Public Sewer
Structure Type: Retail
Water Source: Public
Showing Requirements: Call Listing Agent
Acreage Description: 1/4 To Less Than 1/2 Acre Lot
Listing Office: BHHS EWM Realty
Last Updated: June - 18 - 2026
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