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

  • $2,400,000
531 16th St, Miami Beach FL 33139
Commercial Sale Active

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

531 16th St, Miami Beach FL 33139
  • $2,400,000

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. 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. Favorable land lease structure expiring in 23 years, building is performing at a good cap rate in a strong rental market with upside on rents. Building is well-kept and well-managed. Financials available upon request.

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

Details

Updated on January 15, 2024 at 6:17 pm
  • Property ID: A11420681
  • Price: $2,400,000
  • Year Built: 1947
  • Property Type: Income/MultiFamily
  • Property Status: Commercial Sale

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