This property is suited as a multi-generational purchase for the long-term investor. Such an investor will recap enormous rewards by acquiring this prime three parcel Ocean Drive Property on World Famous South Beach. Recent sales of vacant land on Ocean Drive are over $1,000 per square foot. The property consists of renovated 23 unit apartment building & two adjacent parcels of land which are currently used as a parking lot. The total size is 17,250 square feet. Of the total, 11,500 square feet is vacant land. This will permit significant development without historical constraints on redevelopment of existing Ocean Drive buildings. There is a lease with then current tenants, paying a nominate rent, that expires in 26 years.

Property Details

  • MLS #A10674161
  • TypeHotel
  • StatusActive
  • Development3 FOLIO NUMBERS
  • Subdivision
  • Sale TypeRegular Sale
  • Approx Lot Size5,750
  • ParkingAssigned Parking,Guest Parking
  • Days on Market98
  • Year Built1947
  • StyleApartments,Hotel/Motel
  • WaterfrontNo
  • FurnishedNo
  • Flooring TypeCeramic Floor
  • Date Listed05/15/2019
  • CoolingCentral Individual A/C
  • HeatingCentral Individual A/C
  • Taxes Year2018
  • Taxes$67,265

The multiple listing information is provided by the MIAMI ASSOCIATION OF REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2019-present MIAMI ASSOCIATION OF REALTORS®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: RE/MAX Advance Realty

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