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531 16th St, Miami Beach FL 33139,Miami Beach,Miami-Dade County,Commercial Sale

$2,150,000

Commercial Sale Active

531 16th St, Miami Beach FL 33139

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Commercial Sale Active

531 16th St, Miami Beach FL 33139,Miami Beach,Miami-Dade County,Commercial Sale

531 16th St, Miami Beach FL 33139

$2,150,000

Overview

Income/MultiFamily
Property Type

1947
Year Built

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.

Address

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Address 16th St
City Miami Beach
State/county Miami-Dade County
Zip/Postal Code 33139

Details

Updated on July 30, 2024 at 4:21 pm

Property ID: A11420681
Price: $2,150,000
Year Built: 1947
Property Type: Income/MultiFamily
Property Status: Commercial Sale

Additional details

PublicSurveyRange: 32
ShowingInstructions: Appointment Only,Call Listing Agent
ListAgentKey: 1319a996dec38cbdf95cb9ee75193d73
TaxLegalDescription: LINCOLN SUB PB 9-69 LOT 10 BLK 52 A LOT SIZE 50.000 X 160 74R-86189 OR 11769-105 0483 4
OnMarketDate: 2023-07-14
ListAgentEmail: [email protected]
ContractStatusChangeDate: 2023-07-14
MajorChangeTimestamp: 2024-07-30T14:35:52.583Z
PhotosCount: 28
StatusChangeTimestamp: 2023-08-02T15:15:47.790Z
PriceChangeTimestamp: 2024-07-30T14:35:52.583Z
ListingKeyNumeric: 384179373
MajorChangeType: Price Decrease
ListingContractDate: 2023-07-14
Zoning: 3900
ListAOR: A-Miami Association of REALTORS
TaxAnnualAmount: 41610
ListOfficeName: Avanti Way Commercial
OriginatingSystemKey: miamire
BusinessType: Commercial/Residential Income,Residential-Multi-Family
PhotosChangeTimestamp: 2023-10-25T16:44:32.467Z
OriginatingSystemName: Miami Association of REALTORS®
ListOfficePhone: 786-512-3745
MlsStatus: Active
StreetNumber: 531
ListingKey: 85de7998b78c97c28f9b02bed71456aa
StateOrProvince: FL
ShowingContactType: Agent
ListOfficeKey: d1f9135f2ae1f10c16e7bfc0b47f3ac4
BridgeModificationTimestamp: 2024-07-30T14:36:30.379Z
ListAgentFullName: Fernando Arencibia JR.
ListAgentOfficePhone: 786-512-3745
Stories: 2
ParcelNumber: 02-32-34-002-0680
ListingTerms: Cash,Conventional/Refinance
OtherExpense: 0
Possession: Funding
IDXParticipationYN: 1
InternetAddressDisplayYN: 1
ListAgentMlsId: 3573628
StoriesTotal: 2
ModificationTimestamp: 2024-07-30T14:35:52.583Z
OriginatingSystemID: miamire
PreviousListPrice: 2400000
DaysOnMarket: 382
TransactionBrokerCompensation: 3.00%
BuyerAgencyCompensationType: %
ListOfficeMlsId: AVCM01
ListAgentDirectPhone: 786-512-3745
StreetNumberNumeric: 531
ParkingFeatures: On Street
PostalCodePlus4: 7773
NumberOfUnitsInCommunity: 0
SyndicationRemarks: 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.
ListAgentStateLicense: 3573628
PublicSurveyTownship: 32
StreetName: 16th St
ListingAgreement: Exclusive Right To Sell
PublicSurveySection: 34
SpecialListingConditions: Sale
OriginalListPrice: 2400000
BuildingAreaUnits: Square Feet
InternetEntireListingDisplayYN: 1
BuyerAgencyCompensation: 3.00%
OriginalEntryTimestamp: 2023-08-02T15:15:47.790Z
SourceSystemKey: 384179373
LotSizeSquareFeet: 8000
BuildingAreaTotal: 10820
TransactionBrokerCompensationType: %