Basic Information

  • MLS # A11734941
  • Type Commercial
  • Status
  • Subdivision/Complex
  • Year Built 1947
  • Total Sqft 8,000
  • Date Listed 02/04/2025
  • Days on Market 123
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.

Exterior Features

  • Waterfront No
  • Pool No
  • Parking Spaces 0
  • Parking Description On Street

Interior Features

  • Adjusted Sqft 8,000
  • Sqft 8,000

Property Features

  • Aprox. Lot Size 8,000
  • Furnished Info No
  • Short Sale Regular Sale
  • Subdivision Complex
  • Subdivision Info
  • Tax Amount $45,919
  • Tax Year 0

531 16th St

Miami Beach, FL 33139

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