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.
Mortgage Calculator
*Private Mortgage Insurance - included if downpayment is less than 20% of mortgage.
**Monthly payment - a sum of Principle, Interest, PMI, Tax, Insurance.
| Name | Address | Type | # of Students | Grades | Distance |
|---|---|---|---|---|---|
| Miami Beach South Pointe Elementary School | 1050 4TH ST | public | 490 | PK - 5 | 0.36 mi |
| Fisher Island Day School | 2 FISHER ISLAND DR | private | 126 | PK - 8 | 0.81 mi |
| Miami Beach Feinberg/fisher K-8 | 1420 WASHINGTON AVE | public | 842 | PK - 8 | 0.99 mi |
| Rasg Hebrew Academy | 2400 PINE TREE DR | private | 592 | PK - 12 | 2.14 mi |
| St Patrick School | 3700 GARDEN AVE | private | 297 | PK - 8 | 2.77 mi |
| Tree Of Knowledge Learning Academy | 2220 NE 203RD TER | private | 125 | 4 - 12 | 2.79 mi |
| Miami Children's Museum Charter School | 980 MACARTHUR CSWY | public | 309 | KG - 5 | 2.82 mi |
| North Beach Elementary School | 4100 PRAIRIE AVE | public | 937 | PK - 5 | 2.95 mi |
| Temple Beth Sholom Innovative School | 4144 CHASE AVE # 6 | private | 47 | PK - 4 | 2.98 mi |
Free Benefits of account
