531 16th St, Miami Beach FL 33139,Miami Beach,Miami-Dade County,Commercial Sale

2.400.000 $
531 16th St, Miami Beach FL 33139, Miami Beach

Overview

  • Updated On:
  • June 12, 2024

Description

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.

Address: 531 16th St, Miami Beach FL 33139
State/County:
Zip: 33139
Country: United States

Property Id: 954254
Price: 2.400.000 $

Other Features
Open Parking

Transport
Supermarkets
Schools
Restaurants
Pharmacies
Hospitals

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12,305.27 $
per month
  • Principal and Interest
  • Property Tax
  • HOA fee
9,305.27 $

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Maria Arenas