Home » Miami Beach » 531 16th St, Miami Beach, FL 33139 | A11734941

Multi Family For Sale 531 16th St, Miami Beach, FL 33139

$1,950,000

Property Highlights

Listing ID A11734941 Status of this Listing: Active For Sale Newly Listed Property Property Type Commercial Sale Multi Family Building Area 10,820 Sqft/1005.21 m2 approx. Lot area 8,000 Sqft/743.22 m2 approx. Year Built 1947 Time of this property on Rebonus 0 Day(s)

531 16th St, Miami Beach, FL 33139

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.

Useful Info

Original List Price:$1,950,000

Land Lot (Parcel) Details

Lot Size Unit:Square Feet

Construction

Number of Buildings:1
Number of Units Total:14
Levels:Two
Structure Type:
  • Apartment
  • Multi Family
Stories:2

Property Features

Waterfront:No

Taxes and Expenses

Tax Annual Amount:$45,919

Property Tax Notice for Buyers: Do not rely on the current property taxes paid by the seller, as your tax liabilities may increase following the sale. Transferring ownership or making improvements to the property often triggers tax reassessments, which could raise the amount you owe. If you have questions regarding property valuation, please contact the County Property Appraiser’s Office.

Terms

Documents Available:
  • Aerial
Listing Terms Considered by Seller:
  • Cash
  • Conventional
Occupant Type:
  • Tenant
Lease Considered:No

Community

Senior Community:No

Parking

Covered Spaces:0
Parking Features:
  • On Street

More Details

Other Information:
Flood ZoneAE
FEMA Flood Zone DesignationsAE
Municipal Code2
Ref1104251634
Subdivision Number2

Zoning and Legal

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
Real Estate Folio Number (Parcel Number):02-32-34-002-0680
Zoning Description:3900
Public Survey Township:2
Public Survey Range:32
Public Survey Section:34

Listing History

Update/EventDate/Days
Published Date:February 4, 2025 10:12 am
On Market Date:January 27, 2025
Price Change Date Time:January 30, 2025 9:06 am
Last Important Update Description:New Listing
Date and Time of Last Important Update:February 4, 2025 10:12 am
Status Last Changed:February 4, 2025 10:12 am
Photos Last Modified:February 4, 2025 3:33 pm
Last Modified:February 4, 2025 3:12 pm
Days on the Market Reference Date:February 4, 2025
Days on the Market (updated on Last Modified*):8
Cumulative Days on the Market (updated on Last Modified**):532

Additional Information

Number of Photos:26
Location:,,
Included:Building Only,,
Area:32
Courtesy of:Avanti Way Commercial
Universal Property Id:US-12025-N-0232340020680-R-N

Location

Show Property Address:Yes
Street Name:16th St
Street Number:531
Street Address:531 16th St
City : Miami Beach
State : Florida
Zip Code : 33139
County : Miami-Dade
Full Address:531 16th St, Miami Beach, FL 33139
Latitude:N25° 47' 21.1''
Longitude:W81° 51' 58.4''

Neighborhood

Postal City:Miami Beach

Property Map