2050 Bay Drive - Pierre On the Bay, Miami Beach, FL

Sale Notes:
Property Description:
Bayfront two story aprtment building in Normandy isles. Great upside potential of increasing rents and occupancy or redevelopment. Property also includes vacant lot across the street of 7250sf Apartment building consist of 70 units of which 66 units are efficiency's and 4 are hotel rooms. room sizes vary from 400-600sf. Property has clean environmental, and seawall has been recapped. Contact listing agent for income and expenses. Units are currently being renovated.
Location Description:
Miami Beach consist 7.1 square miles 93, 535 residents and more than 7 million tourist per year. In addition more than $ 3 billion sold in real estate and $500 million in private development. Miami Beach is also home to more than 2 million sf of office space and more than $800 million in food and beverage sales. This waterfront site enjoys not only the greatest advantages from this robust city but also features 208'of waterfrontage.