Ultra rare south of fifth development opportunity! This 13,000 sf lot includes 249 collins ave, 255 collins ave & 247 ocean ct. Existing improvements feature 15 apartments + 2 retail spaces producing $467,900 gross annually with rents well below market. A development feasibility study confirms the potential to build up to 5 stories with 26 residential units and 22,750 sf of buildable area without variances. Potential to increase this even more by taking advantage of the live local act or other state, county, & city development bonuses. Exceptional chance to create a new project in miami beach's most coveted neighborhood, blending immediate income with prime development upside.

Features

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Current Use: Other
Property SqFt: 13000
Remarks: Ultra Rare South of Fifth development opportunity! This 13, 000 SF lot includes 249 Collins Ave, 255 Collins Ave & 247 Ocean Ct. Existing improvements feature 15 apartments + 2 retail spaces producing $467, 900 gross annually with rents well below market. A development feasibility study confirms the potential to build up to 5 stories with 26 residential units and 22, 750 SF of buildable area without variances. Potential to increase this even more by taking advantage of the Live Local Act or other state, county, & city development bonuses. Exceptional chance to create a new project in Miami Beach's most coveted neighborhood, blending immediate income with prime development upside.
Internet Remarks: Ultra Rare South of Fifth development opportunity! This 13, 000 SF lot includes 249 Collins Ave, 255 Collins Ave & 247 Ocean Ct. Existing improvements feature 15 apartments + 2 retail spaces producing $467, 900 gross annually with rents well below market. A development feasibility study confirms the potential to build up to 5 stories with 26 residential units and 22, 750 SF of buildable area without variances. Potential to increase this even more by taking advantage of the Live Local Act or other state, county, & city development bonuses. Exceptional chance to create a new project in Miami Beach's most coveted neighborhood, blending immediate income with prime development upside.
Waterfront: No info
Days on Market: 5
Office Name: BHHS EWM Realty
Area: 13000
Taxes: 93460
Tax Year: 2024
Listing Date: 2025-10-03T16:17:24.000-00:00
Lot Size Square Feet: 13000

Price History

10/03/2025

Date

Listed

Event

$16M

Price

$1,231 ft² / $13,248 m²

Price Per

Price per square foot and days on website are not provided values and are calculated by Subdivisions.

Listed by Ben Brissi • BHHS EWM Realty • Buyer Agency Compensation .

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