1311 15th Ter
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1311 15th Ter
0.18 Acres of Commercial Land Offered at £1,921,804 in Miami Beach, FL 33139
Investment Highlights
- Exceptionally Rare Opportunity to Build in South Beach!
- In Place Rental Income to offset Carrying Costs!
- Gated Parking, Private Lobby, Rooftop Pool, and More!
- City Approved Plans included with Sale!
- Build Six 1,310 Luxury 3BR/2BA Apartments!
Executive Summary
Once in a Lifetime Opportunity!
1311 15th Terrace is a 7,500 square foot parcel in the heart of South Beach. This RM-1 zoned property boasts an FAR of 1.25 for a total buildout of 9,375 square feet. The Primary Uses permitted in this RM-1 Zoning District include Multifamily Apartment Buildings, Condominiums, and Single-Family Residences, to name a few.
City Approved Plans!
Plans for a new Five Story Apartment Building have already been approved by the City of Miami Beach Historic Preservation Board and Construction Drawings are underway. The approved design consists of gated, ground floor parking for each of Six 3 Bedroom 2 Bath Apartments, a Private Lobby, Elevator, Roof Top Pool, and even an Outdoor Kitchen!
In Place Income!
There are currently seven apartments on the property generating monthly income to cover pre-construction carrying costs. Demolition of the existing buildings has already been approved by the City and the Historic Preservation Board. A copy of all City Submittals, Plans, Variances, and Entitlements are available upon request.
Location Location Location!
In addition to the rarity of a Commercial lot in South Beach, the subject property is only 1 and ½ blocks from world-famous Lincoln Road Mall, two blocks to Biscayne Bay, and a short stroll to the Beach, Ocean Drive, Flamingo Park, the newly renovated Convention Center, as well as the best in fine dining, shopping, museums, and people watching- a favorite pastime due to the splendor, warmth, and diversity that is South Beach.
1311 15th Terrace is a 7,500 square foot parcel in the heart of South Beach. This RM-1 zoned property boasts an FAR of 1.25 for a total buildout of 9,375 square feet. The Primary Uses permitted in this RM-1 Zoning District include Multifamily Apartment Buildings, Condominiums, and Single-Family Residences, to name a few.
City Approved Plans!
Plans for a new Five Story Apartment Building have already been approved by the City of Miami Beach Historic Preservation Board and Construction Drawings are underway. The approved design consists of gated, ground floor parking for each of Six 3 Bedroom 2 Bath Apartments, a Private Lobby, Elevator, Roof Top Pool, and even an Outdoor Kitchen!
In Place Income!
There are currently seven apartments on the property generating monthly income to cover pre-construction carrying costs. Demolition of the existing buildings has already been approved by the City and the Historic Preservation Board. A copy of all City Submittals, Plans, Variances, and Entitlements are available upon request.
Location Location Location!
In addition to the rarity of a Commercial lot in South Beach, the subject property is only 1 and ½ blocks from world-famous Lincoln Road Mall, two blocks to Biscayne Bay, and a short stroll to the Beach, Ocean Drive, Flamingo Park, the newly renovated Convention Center, as well as the best in fine dining, shopping, museums, and people watching- a favorite pastime due to the splendor, warmth, and diversity that is South Beach.
Property Facts
| Price | £1,921,804 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Commercial |
| No. Lots | 1 | Total Lot Size | 0.18 AC |
| Property Type | Land |
| Price | £1,921,804 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Commercial |
| Total Lot Size | 0.18 AC |
1 Lot Available
Lot
| Price | £1,921,804 | Lot Size | 0.18 AC |
| Price Per AC | £10,676,692 |
| Price | £1,921,804 |
| Price Per AC | £10,676,692 |
| Lot Size | 0.18 AC |
Extremely Rare South Beach Land Offering 1311 15th Terrace is a 7,500 square foot parcel in the heart of South Beach. This RM-1 zoned property comes with approved plans for six 1,310 SF Luxury apartments.
Description
Please see attached Offering Memorandum for additional information. Note that the exxisting structures provide some rental income until Permit and Construction Drawings are complete.
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Walk Score ®
Walker's Paradise (93)
Bike Score ®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 02-3233-016-0050 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £990,122 |
PROPERTY TAXES
Parcel Number
02-3233-016-0050
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£990,122
zoning
| Zoning Code | RM-1 (RM-1 Zoning represents Residential Multifamily, Low Intensity. The FAR for RM-1 zoned properties is 1.25) |
| RM-1 (RM-1 Zoning represents Residential Multifamily, Low Intensity. The FAR for RM-1 zoned properties is 1.25) |
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