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 22 years, low fixed annual lease payment for the entirety of the lease term with no escalations! NEW ROOF being installed prior to closing! 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.
Property Details
Price:
$2,150,000
MLS #:
A11420681
Status:
Active
Beds:
0
Baths:
0
Address:
531 16th St
Type:
Commercial
Subtype:
Income/MultiFamily
City:
Miami Beach
Listed Date:
Jul 14, 2023
State:
FL
Finished Sq Ft:
10,820
Total Sq Ft:
10,820
ZIP:
33139
Year Built:
1947
See this Listing
CENTURY 21 Carioti is a full service real estate company servicing the State of Florida with a headquarters in Orlando, FL.
More About CENTURYMortgage Calculator
Schools
Interior
Exterior
Parking Features
On Street
Financial
Taxes
$41,610
Map
Community
- Address531 16th St Miami Beach FL
- CityMiami Beach
- CountyMiami-Dade County
- Zip Code33139
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