Multifamily in 249 Collins Ave Miami Beach for sale with MLS# A11893497

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. RPS-3 Zoning.

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249 Collins Ave, Miami Beach, FL 33139

Price
Price:
$16,000,000.00
Original List Price:
$16,000,000.00
Lease Details
Lease Term:
Month To Month
Lease Terms / Move In Requirements:
Month-to-Month Lease
Property Status and Type
Listing Type:
For Sale
Status:
Active
Listing Category:
Commercial Sale
Property Type:
Multifamily
MLS Number:
A11893497
Description of Last Important Update:
New Listing
Last Major Update on:
October 10, 2025 1:34 pm
Measures
Built-Up Area:
16,421 Sqft
Lot Area:
13,000 Sqft
Lot Size Unit:
Square Feet
Property Features
Waterfront:
No
Security:
Fenced
Construction
Year Built:
1920
Year Built Details:
Resale
Roof:
Built-up
Number of Buildings:
1
Number of Units Total:
17
Architectural Style:
Detached
Levels:
Two
Construction Materials:
Stucco
Stories:
2
Taxes and Expenses
Tax Annual Amount:
$93,460.00
Tax Year:
2024
Parking
Covered Spaces:
0
Parking Features:
Other
Utilities
Sewer:
Public Sewer
Water Source:
Public
Community
Senior Community:
No
Terms
Listing Terms Considered by Seller:
Cash, Conventional
Occupant Type:
Tenant
Buyer Possession:
Closing And Funding
Lease Considered:
No
Zoning and Legal
Tax Legal Description:
OCEAN BEACH FL SUB PB 2-38 LOTS 14 & 15 BLK 3 LOT SIZE SITE VALUE OR 12960-3089 0686 1
Real Estate Folio Number (Parcel Number):
02-42-03-003-0420
Zoning Description:
3003
Listing History
Originally published on:
October 10, 2025 1:34 pm
Active on the market since:
October 10, 2025
Price change occurred on:
October 9, 2025 1:44 pm
Listing Status Last Changed On:
October 10, 2025 1:34 pm
Photos updated on:
October 10, 2025 5:57 pm
Last Modified:
April 2, 2026 8:47 pm
Additional Information
Flood Zone:
AE
Municipal Code:
2
Subdivision Number:
3
Courtesy of:
BHHS EWM Realty
Attribution:
ben@brissigroup.com
Location
Street Name:
Collins Ave
Street Number:
249
City:
Miami Beach
State:
Florida
Zip Code:
33139
County:
Miami-Dade
Latitude:
N25° 46' 18.6''
Longitude:
W81° 52' 0.3''
Property Map

Neighborhood Stats

Source: U.S. Census Bureau, ACS 5-Year Estimates

Median Household Income $63,368
Median Home Value $480,500
Median Rent $1,745/mo
Median Age 42
Population 34,406

Air Quality

Source: AirNow.gov · Miami

🌬️ Air Quality Index (AQI) 50 Good
☀️ O3 50 Good
🫁 PM2.5 50 Good

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