Fort Lauderdale Luxury & Waterfront Homes

560 Michigan Ave

Miami Beach, FL 33139

MLS#: A12057167

$5,800,000

Status: Active
Listing number: A12057167
Listing provided by: The Corcoran Group
Listing agent phone: None
Last update: 2 days ago
New on site 2 days ago
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Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1937

Sq.Footage

5,524

This income producing property includes two renovated buildings in Miami Beach with furnished one & two bedroom apartments, licensed for short term rentals and currently leased on an NNN basis to an operating company. A future owner can choose to keep the operating company in place, enjoying steady income not subject to occupancy fluctuations, or instead operate under own management. The remodeled 9 units offer fully equipped kitchens & bathrooms as well as central AC. The property consists of two separate folios and is located on a double corner lot at 6th Street and Michigan Avenue in the heart of South Beach, close to the 5th Street Mall and the new Five Park residential tower & City park. Ocean Drive, the beach as well as the exclusive South of Fifth neighborhood are just blocks away, making this an extremely attractive location for visitors and short term tenants. Zoning is CPS2 commercial - residential mix used - FAR 2,which allows further development up to 20,000 Sq/Ft. Please ask us for proposed design renderings.

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Block

  • Parking

    Assigned

  • Pool

    No

Area & Lot

  • Lot Size(square feet)

    10,000

  • Property Type

    Commercial Sale

  • Property Sub Type

    Multi Family

Price

  • Sales Price

    $5,800,000

  • Zoning

    6503

  • Sq. Footage

    5,524

  • Price/SqFt

    $1,049

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

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Location

County

Miami-Dade

Elementary School

Middle School

High School

Listing Courtesy of Frank Euler PA , The Corcoran Group

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Agent Jarrod Gaylis

Realtor

Jarrod Gaylis

Call Jarrod today to schedule a private showing.

(305) 790-0199

jgaylis@perfectpropertiesfl.com


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This income producing property includes two renovated buildings in Miami Beach with furnished one & two bedroom apartments, licensed for short term rentals and currently leased on an NNN basis to an operating company. A future owner can choose to keep the operating company in place, enjoying steady income not subject to occupancy fluctuations, or instead operate under own management. The remodeled 9 units offer fully equipped kitchens & bathrooms as well as central AC. The property consists of two separate folios and is located on a double corner lot at 6th Street and Michigan Avenue in the heart of South Beach, close to the 5th Street Mall and the new Five Park residential tower & City park. Ocean Drive, the beach as well as the exclusive South of Fifth neighborhood are just blocks away, making this an extremely attractive location for visitors and short term tenants. Zoning is CPS2 commercial - residential mix used - FAR 2,which allows further development up to 20,000 Sq/Ft. Please ask us for proposed design renderings.

560 Michigan Ave

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