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1580 Bay Road. Miami Beach Assemblage 3 Multifamily Properties Offered at $8,700,000 in Miami Beach, FL
INVESTMENT HIGHLIGHTS
- 3 parcels include three fully leased fourplexes on 15,250 SF of land in a quiet, BAY ACESS, no-flood zone just steps from Lincoln Rd
- Zoned RM-2 with 2.0 FAR and 60-ft height as-of-right, the site allows for approximately 30,500 buildable SF — ideal for 30 boutique luxury condo units
- Full corner assemblage spanning from 16th Street to Bay Road
- Significant potential under Florida’s Live Local Act (SB 102), which may allow increased height, FAR (up to 3.0), and additional development flexibil
EXECUTIVE SUMMARY
Rare boutique development opportunity in Miami Beach! This corner assemblage includes three fully leased fourplexes on 15,250 SF - .35 acres of land in a quiet, bay-access, no-flood zone just steps from Lincoln Road. Zoned RM-2 with 2.0 FAR and 60-ft height as-of-right, the site allows for approximately 30,500 buildable SF — ideal for ~30 boutique luxury condo units. Generate income during planning from 12 existing units. 24 bedrooms, 18 baths. Walkable to Trader Joe's, Fresh Market, and a brand-new 50,000+ SF Whole Foods under construction on Alton Road. Surrounded by high-performing luxury projects like Monad Terrace and Capri South Beach.
There is also significant potential under Florida’s Live Local Act (SB 102), which may allow increased height, FAR (up to 3.0), and additional development flexibility if a rental project with 40% affordable/workforce housing is pursued. View the full law here. https://www.flsenate.gov/Session/Bill/2023/102
There is also significant potential under Florida’s Live Local Act (SB 102), which may allow increased height, FAR (up to 3.0), and additional development flexibility if a rental project with 40% affordable/workforce housing is pursued. View the full law here. https://www.flsenate.gov/Session/Bill/2023/102
PROPERTY FACTS
| Price | $8,700,000 | Number of Properties | 3 |
| Price / SF | $668.66 / SF | Individually For Sale | 1 |
| Sale Type | Investment | Total Building Size | 13,011 SF |
| Status | Active | Total Land Area | 0.21 AC |
| Price | $8,700,000 |
| Price / SF | $668.66 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 1 |
| Total Building Size | 13,011 SF |
| Total Land Area | 0.21 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 1580 Bay Rd, Miami Beach, FL 33139 | Multifamily | 5,250 SF | 1954 | - |
| 1420 16th St, Miami Beach, FL 33139 | Multifamily | 4,460 SF | 1955 | $2,900,000 |
| 1410 16th St, Miami Beach, FL 33139 | Multifamily | 3,301 SF | 1954 | - |
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1580 Bay Road. Miami Beach Assemblage
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