Miami Beach, FL 33139 531 16th St
$2,150,000
23 more
Presented By: This listing is courtesy of Avanti Way Commercial;
SQFT • 10,820
Home Details
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.
Presented By: This listing is courtesy of Avanti Way Commercial;
Interior Features for 531 16th St
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
General for 531 16th St
Additional Parcels Y/NNo
Attached Garage No
Carport Y/NNo
CityMiami Beach
CountyMiami-Dade County
Days on Market397
Garage Y/NNo
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Legal DescriptionLINCOLN SUB PB 9-69 LOT 10 BLK 52 A LOT SIZE 50.000 X 160 74R-86189 OR 11769-105 0483 4
LevelsTwo
Lot Size Square Feet8000.0
Lot Size UnitsSquareFeet
MLS Area32
MobileHomeRemainsYNNo
New ConstructionNo
Occupancy TypeTenant
PossessionClosingFunding
PostalCityMiami Beach
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalMultiFamily
Property SubTypeMultiFamily
Property TypeCommercialSale
Rent Control Y/NNo
Senior Community Y/NNo
Standard StatusActive
StatusActive
Stories2
Structure TypeMultiFamily
Tax Annual Amount41610.0
TermsCash, Conventional
View Y/NNo
Virtual TourClick here
Waterfront Y/NNo
Year Built1947
Zoning Description3900
Exterior for 531 16th St
Building Area Total10820.0
Covered Spaces0.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Area8000.0
Open Parking Y/NNo
Parking FeaturesOnStreet
SpaNo
Additional Details
Price History
Diana Fahmie
Realtor
