412-416-424 Ocean Dr

Miami Beach, FL 33139

  • beds
  • 0 baths
  • sq ft
  • 0.13 acres lot

$8,000,000

  • Active
  • MLS A10371911

PROPERTY DESCRIPTION

This property is suited as a multi-generational purchase for the long term investor. Such an investor will reap enormous rewards by acquiring this prime three parcel Ocean Drive property on world famous South Beach. Recent sales on vacant land on Ocean Drive are over $1,000 per square foot. The property consists of a renovated 23 unit apartment building & two adjacent parcels of land which are currently used as a parking lot. The total lot size 17,250 square feet. Of the total, 11,500 square feet is vacant land. this will permit significant development without the historical constraints on redevelopment of existing Ocean Drive buildings. There is a lease with the current tenants, paying a nominal rent, that expires in 26 years.

PRESENTED BY

Paul Silverstein with RE/MAX Advance Realty

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This content last updated on 04/25/2018 01:18AM. Some properties which appear for sale on this website may subsequently have sold or may no longer be available.