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531 16th St

0.18 Acres of Commercial Land Offered at $2,150,000 in Miami Beach, FL 33139

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Investment Highlights

23 years remaining on lease

Rights to income producing multifamily building on property

Executive Summary

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! Potential to extend lease term or buyout lease from land owner. Building is performing at a good cap rate in a strong rental market with upside on rents, higher yield and tax advantages. 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 Facts

Price	$2,150,000	Property Subtype	Commercial
Sale Type	Investment	Proposed Use	Multifamily Apartment Units
No. Lots	1	Total Lot Size	0.18 AC
Property Type	Land

Price	$2,150,000
Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Multifamily Apartment Units
Total Lot Size	0.18 AC

1 Lot Available

Lot

Price	$2,150,000	Lot Size	0.18 AC
Price Per AC	$11,944,444

Price	$2,150,000
Price Per AC	$11,944,444
Lot Size	0.18 AC

Up FOR SALE are the rights to the lease of this land with a remainder of 22 years. The rights include the profits obtained from an excellent income-producing 14-unit multifamily building in the heart of South Beach!

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