Property 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 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.

Features
: On Street
Address Map
US
FL
Miami-Dade
Miami Beach
33139
16th St
531
W81° 51' 52.9''
N25° 47' 34.5''
32
Additional Info
Avanti Way Commercial
Fernando Arencibia JR.
$0
Additional Information
: Two
2023-07-14
2400000
2
https://www.propertypanorama.com/instaview/mia/A11420681
10820
Financial
41610.0
Listing Information
3573628
AVCM01
Cash, Conventional
Active
2024-10-09T17:44:06Z
SEFMIAMI
2023-08-02T11:15:47Z

Commercial Sale

531 16th St, Miami Beach, Florida 33139

$2,150,000
Listing ID #A11420681
Basic Details
Property Type : Commercial Sale
Listing Type : For Sale
Listing ID : A11420681
Price : $2,150,000
Year Built : 1947
Listing Status : Active
Property Sub Type : Multi Family
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