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 21 years, low fixed annual lease payment for the entirety of the lease term with no escalations! NEW ROOF! Completed December 2024. 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
FL
Miami-Dade County
Miami Beach
33139
531 16th St
0
W81° 51' 58.4''
N25° 47' 21.1''
MLS Addon
8
: Building Only
: All Cash, Conventional/refinance
: Sale
2
$45,919
3900

Commercial Sale For Sale

531 16th St, Miami Beach, Florida 33139

8,000 Sqft
$1,950,000
Listing ID #A11734941
Basic Details
Property Type : Commercial Sale
Property SubType : Income/multifamily
Listing Type : For Sale
Listing ID : A11734941
Price : $1,950,000
Year Built : 1947
Lot Area : 8,000 Sqft
Building Area : 10,820 Sqft
Status : Active
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