531 16th St, Miami Beach FL 33139

About This Property

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 20 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.

Property Details

Property Type

Income/MultiFamily

Status

Active

MLS #

A11975379

Building Area

10,820 SF

Lot Size

8,000 SF

Year Built

1947

Zoning

3900

Days on Market

81

Price

$1,700,000