Description

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. RPS-3 Zoning.

Address

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Address: Collins Ave
City: Miami Beach
State/county: Miami-Dade County
Zip/Postal Code: 33139
Area: OCEAN BEACH FL SUB

Details

Updated on April 3, 2026 at 2:51 am

Property ID A11889965
Price $16,000,000
Land Area 0.2984 Square Feet
Type Residential
Property Status Commercial Land

Additional details

BuildingAreaUnits Square Feet
BuildingFeatures Alley
BuildingName OCEAN BEACH FL SUB
ContractStatusChangeDate 2025-10-03
CurrentUse Other Usage, Other Style
DaysOnMarket 181
Elevation 5
ExpirationDate 2026-05-31
FinancialDataSource Owner Provided
FrontageLength 102
GrossScheduledIncome 467900
InternetAddressDisplayYN 1
InternetAutomatedValuationDisplayYN 1
InternetConsumerCommentYN 1
InternetEntireListingDisplayYN 1
ListAOR A-Miami Association of REALTORS
ListAgentDirectPhone 561-870-2211
ListingTerms All Cash, Conventional
LotFeatures Beach Area, City Location, Less Than 1 Acre
LotSizeDimensions 102x129
LotSizeSquareFeet 13000
MLSAreaMajor Ocean Beach Fl Sub
MajorChangeTimestamp October 3, 2025 at 08:17pm
MajorChangeType New
MlsStatus Active
ModificationTimestamp April 2, 2026 at 08:46pm
OnMarketDate 2025-10-03
OriginalEntryTimestamp October 3, 2025 at 08:17pm
OriginalListPrice 16000000
OriginatingSystemID miamire
OriginatingSystemKey miamire
OriginatingSystemName Miami Association of REALTORS®
OtherExpense 0
ParcelNumber 02-42-03-003-0420
PhotosChangeTimestamp October 10, 2025 at 06:23pm
PhotosCount 30
Possession Funding
PossibleUse Central Urban
PriceChangeTimestamp October 3, 2025 at 08:00pm
PublicSurveyRange 42
PublicSurveySection 3
PublicSurveyTownship 42
RoadFrontageType Public Road
Sewer Public Sanitation
ShowingContactType Agent
ShowingInstructions Call Listing Agent
SourceSystemKey 421403636
StateOrProvince FL
StatusChangeTimestamp October 3, 2025 at 08:17pm
StreetName Collins Ave
StreetNumber 249
StreetNumberNumeric 249
StructureType Residential
SyndicationRemarks 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. RPS-3 Zoning.
TaxAnnualAmount 93460
TaxLegalDescription OCEAN BEACH FL SUB PB 2-38 LOTS 14 & 15 BLK 3 LOT SIZE SITE VALUE OR 12960-3089 0686 1
TaxYear 2024
Utilities Electricity Connected, Sewer Connected, Water Connected, Electricity Available, Sewer Available, Trash Removal, Water Available
WaterSource Municipal Water
Zoning 3003