Search Results for 

511 - 515 16th Street - 1600 Drexel, Miami Beach, FL

Welcome to SHOWCASE.COM, the Web's most comprehensive source of commercial property data, where you can search from 900,000 listings nationwide. To see more Commercial Real Estate listings, Office Space, Industrial Space, Retail Space, Commercial Land, Multi-Family or other commercial property types, just click the button to the right.
511 - 515 16th Street - 1600 Drexel

Miami Beach, FL 33139 - Flamingo-Lummus MF Submarket

Property Type:Multi-Family Number of Units:14 Status:Existing Year Built:1924
Stories:2 Building Size:6,583 SF Land Area:.18 AC (8,002 SF)
For Sale Price:$3,500,000 Price/Unit:$250,000.00 Cap Rate:5.00 % GRM:-


Sale Notes:
Marcus & Millichap is proud to present 511-515 16th Street in Miami Beach, Florida. Two, two story structures sitting on one parcel, constructed in 1924 and 1953, consisting of three one-bedroom/one-bath units, one suite/one-bath, one efficiency/one-bath and nine studios/one-bath units, totaling 6,583 square feet of rentable space on a 8,000-square foot lot.

Buildings are just steps from world-renowned Lincoln Road. The investor has a tremendous opportunity to purchase a property with in place cash flow and continue to operate it as an apartment building in an appreciating market. Depending on the investor' s business plan, potential exit strategies include correctly timed conversion to condominiums. This offering is for the investor seeking to own in the absolute best location along with an irreplaceable market, in the highest appreciating submarket of Miami-Dade County. An investor will have the upside potential to raise rents closer to market rates and increase cash flow through capital improvement. This long-term investment would yield a reasonable return for those seeking to shelter wealth.

Marcus & Millichap Inc
Arthur D Porosoff
(786) 522-7058

Share this listing

Copy and paste this HTML into your blog or web page:
<a href="" target="_blank">511 - 515 16th Street - 1600 Drexel, Miami Beach, FL - Commercial property</a>

Send Email
Add a personalized message: (Optional)
Copyright © 1997-2016 CoStar Realty Information, Inc. All rights reserved.  |  About SHOWCASE.COM |  Advertise |  Site Map