531 16th St , for Sale & Rent

531 16th St for Sale & Rent

Price $2,400,000.00

• Lot size 10820
• Year Build 1947
• Waterfront
• Zip 33139
• Style
• Parking Description On Street
• Pool Yes
• Status Active

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! Potential to extend lease term or buyout lease from land owner. Building is performing at a good cap rate in a strong rental market with upside on rents. 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.

LINCOLN SUB PB 9-69 LOT 10 BLK 52 A LOT SIZE 50.000 X 160 74R-86189 OR 11769-105 0483 4

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! Potential to extend lease term or buyout lease from land owner. Building is performing at a good cap rate in a strong rental market with upside on rents. 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.

City:Miami Beach,Zoning:3900,List A O R:A-Miami Association of REALTORS,Stories:2,Latitude:25.7892079,List Price:2400000,Listing Id:A11420681,Longitude:-80.1337741,Mls Status:Active,Year Built:1947,Postal Code:33139,Street Name:16th St,Coordinates:1:25.7892079,Photos Count:28,Business Type:1:Residential-Multi-Family,Days On Market:244,Listing Terms:1:Conventional/Refinance,Lot Size Units:Square Feet,M I A M I R E_ Area:32,On Market Date:2023-07-14,Parcel Number:02-32-34-002-0680,Property Type:Commercial Sale,Stories Total:2,Street Number:531,Open Parking Y N:1,Public Remarks: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! Potential to extend lease term or buyout lease from land owner. Building is performing at a good cap rate in a strong rental market with upside on rents. 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.,County Or Parish:Miami-Dade County,List Office Name:Avanti Way Commercial,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:7773,Property Sub Type:Income/MultiFamily,State Or Province:FL,Tax Annual Amount:41610,Unparsed Address:531 16th St, Miami Beach FL 33139,Listing Agreement:Exclusive Right To Sell,Building Area Total:10820,Building Area Units:Square Feet,Lot Size Square Feet:8000,Original List Price:2400000,Public Survey Range:32,I D X Participation Y N:1,Syndication Remarks: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! Potential to extend lease term or buyout lease from land owner. Building is performing at a good cap rate in a strong rental market with upside on rents. 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.,Listing Contract Date:2023-07-14,Originating System I D:miamire,Public Survey Section:34,Showing Instructions:Appointment Only,Call Listing Agent,Street Number Numeric:531,Tax Legal Description:LINCOLN SUB PB 9-69 LOT 10 BLK 52 A LOT SIZE 50.000 X 160 74R-86189 OR 11769-105 0483 4,Public Survey Township:32,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:Unique opportunity to acquire this Land Lease with excellent income-producing 14-unit multifamily building in the heart of South Beach.,Contract Status Change Date:2023-07-14,Internet Address Display Y N:1,Transaction Broker Compensation:3.00%,Internet Entire Listing Display Y N:1,M I A M I R E_ Compensation Disclaimer:BBC: 3.00%, The offer of compensation is made only to participants of the MLS where the listing is filed.,Transaction Broker Compensation Type:%,