Ultra Rare South of Fifth development opportunity. This 13,000 SF lot includes 249 Collins Ave, 255 Collins Ave & 247 Ocean Ct. Existing improvements feature 15 apartments + 2 retail spaces producing $467,900 gross annually with rents well below market. A development feasibility study confirms the potential to build up to 5 stories with 26 residential units and 22,750 SF of buildable area without variances. Potential to increase this even more by taking advantage of the Live Local Act or other state, county, & city development bonuses. Exceptional chance to create a new project in Miami Beach’s most coveted neighborhood, blending immediate income with prime development upside.
Property Details
Price:
$16,000,000
MLS #:
A11893497
Status:
Active
Beds:
0
Baths:
0
Type:
Commercial
Subtype:
Income/MultiFamily
Listed Date:
Oct 10, 2025
Total Sq Ft:
16,421
Year Built:
1920
See this Listing
Schools
Interior
Exterior
Construction Materials
Stucco
Parking Features
Other
Roof
Built-Up
Security Features
Security Fence
Financial
Tax Year
2024
Taxes
$93,460
Map
Community
- Address249 Collins Ave Miami Beach FL
- CityMiami Beach
- CountyMiami-Dade County
- Zip Code33139
Market Summary
Current real estate data for Commercial in Miami Beach as of Jan 16, 2026
124
Commercial Listed
238
Avg DOM
421
Avg $ / SqFt
$3,853,552
Avg List Price
Property Summary
- 249 Collins Ave Miami Beach FL is a Commercial for sale in Miami Beach, FL, 33139. It is listed for $16,000,000
Similar Listings Nearby
249 Collins Ave
Miami Beach, FL