221 Collins Avenue

Miami Beach, FL 33139

Listing ID: 187583
$7,600,000
For Sale
  • Lot Size Acres 0.149
  • Building Sq Ft 9,160
  • Building Price per Sq Ft $829.69
  • Land Sq Ft 6,500
  • Land Price per Sq Ft $1,169.23
221 Collins Avenue - main image
221 Collins Avenue - alt image 2
Description

APEX Capital Realty is pleased to present the opportunity to acquire a 8-unit multifamily which was under a full renovation. The property is in the exclusive South of Fifth neighborhood of Miami Beach and is within walking distance of the beach. This is an opportunity to acquire a distressed property that is under a full renovation into a coveted short term stay hotel. The offering includes approved plans by the city and an approved hotel license.

Neighboring landmarks include the Blank Kara hotel, Story Nightclub, The Big Pink and the Marjory Stoneman Douglas Ocean Beach Park.

Property Overview

Asking Price: $7,600,000

Building Size: 9,160 SF

Lot Size: 6,500 SF

Year Built: 1922

Current Unit Count: 11

Finished Project Unit Count: 8

Frontage: +/-30 along Collins Ave

Status: 30% Renovated

Zoning: RPS-3 – Commercial Intensive Mixed-Use

Property Highlights

Project is delivered 30-40% completed with all approvals and plans in place.

Irreplaceable location steps from Public Parks and the Beach.

Multifamily Boutique Hotel Conversion

Hotel License Recently Approved

Work Needs to be Completed

Appraisal close to $9M

Attachments & Files
Listing Demographics

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population20,05747,659174,401
Population Median Age434240
Population by Age0-9 Yrs1751 (8%)4208 (8%)16059 (9%)
10-19 Yrs854 (4%)2311 (4%)11400 (6%)
20-29 Yrs2494 (12%)6114 (12%)27588 (15%)
30-39 Yrs4251 (21%)10117 (21%)35822 (20%)
40-49 Yrs3099 (15%)7416 (15%)26717 (15%)
50-59 Yrs2880 (14%)6721 (14%)22619 (12%)
60-69 Yrs1962 (9%)4893 (10%)16809 (9%)
70+ Yrs2766 (13%)5878 (12%)17387 (9%)
Median HH Income$44,424$55,351$55,933
Total Household Income< 24K3634 (33%)6461 (25%)22200 (26%)
25-49K2191 (19%)5222 (20%)15994 (19%)
50-74K1419 (12%)3405 (13%)11557 (13%)
75-99K1043 (9%)2537 (10%)8953 (10%)
100-199K1732 (15%)4370 (17%)14926 (18%)
200K+994 (9%)3082 (12%)9287 (11%)
Highest Education LevelNo Diploma2082376417743
Diploma or GED2965627224579
Some College2273539417434
Assoc. Degree128031159585
Bachelors Degree44351152637197
Higher Degree3501906330918
Total Housing Units17,61540,607122,554
--Owner-Occupied3,4399,05426,279
--Renter-Occupied7,57316,02456,638
Owner-Occupied Values< 100K1022641131
100-199K3396231826
200-299K85018694438
300-399K54914154396
400-499K2048823076
500K+1396400111413
Total Working Age Population17,76742,082151,183
In Work Force12,34929,635103,147
Not In Work Force5,41812,44748,036
Workforce Employed11,84028,41697,972
Workforce Unemployed4961,1384,979
Civlian Workforce12,33629,554102,951
Military Workforce1381196
Total Households11,01225,07882,917
Family Households3,9139,34434,485
Non-Family Households7,09915,73348,432
Married Couple2,8097,10324,117
Other Family1,1052,24110,368
Married w/Child7742,0848,095
Single Male w/Child116173850
Single Female w/Child3957903,720

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Florida15,982,378+1818,801,310+1421,517,610+1324,340,457
Miami-Dade County2,253,362+112,496,435+152,861,579+113,190,242

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Location & Directions
Listing Agent
Miguel A. Pinto Agent Photo

Miguel A. Pinto

Apex Capital Realty
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