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CommercialSaleMultifamilyFLMiami Beach531, 16th St, Miami Beach, FL, 33139

531 16th St

531, 16th St, Miami Beach, FL, 33139
    $2,150,000
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    Basics

    • Category:
    • Type:
    • Status:
    • Bathrooms: 0
    • Floors: 2
    • Lot size: 8000, 8000 sq ft
    • Year built: 1947
    • County: Miami-Dade
    • MLS ID: A11420681

    Description

    • Description:

      LINCOLN SUB PB 9-69 LOT 10 BLK 52 A LOT SIZE 50.000 X 160 74R-86189 OR 11769-105 0483 4 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.

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    Building Details

    • Structure Type: MultiFamily
    • Covered Spaces: 0
    • Levels: Two

    Amenities & Features

    • Parking Features: OnStreet

    Expenses, Fees & Taxes

    • Tax Annual Amount: $41,610

    Miscellaneous

    • List Office Name: Avanti Way Commercial
    • Listing Terms: Cash,Conventional

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    This -type commercial real estate is located in 531, 16th St, Miami Beach, FL, 33139 was built in 1947, and is listed at $2,150,000.

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