Commercial Real Estate Property For Sale In Miami Beach

1936 NORMANDY DRIVE Miami Beach, FL 33141
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$2,099,999

  • 1958 Year Built
  • May 12, 2022 Listing Date

MLS #

:

A11201794

Price

:

$2,099,999

Status

:

Active

Listing Date

:

May 12, 2022

Square Footage

:

Not Available

County

:

Miami-Dade

Square Footage

:

Not Available

Year Built

:

1958

Taxes

:

$27,900 Per Year

Waterfront

:

No

Virtual Tour

:

click here to view virtual tour

 

Remarks

:

LOCATION, LOCATION, LOCATION! EXCELLENT INVESTMENT OPPORTUNITY IN NORMANDY ISLES... THIS 10-UNIT APARTMENT BUILDING IS LOCATED JUST A SHORT WALK FROM NORMANDY ISLES RETAIL ROW AND IS VERY CLOSE TO THE WHITE SANDY BEACHES OF MIAMI BEACH, A WORLD-FAMOUS GOLF COURSE, SHOPPING CENTERS, MALLS, NIGHT LIFE, AND DOWNTOWN. SAVY INVESTORS MAY WANT TO EXPLORE THE OPTION OF CONVERTING THIS BUILDING TO A SHORT-TERM RENTAL PROPERTY AND MAXIMIZE RETURNS. MOST OF THE CURRENT TENANTS HAVE BEEN HERE FOR 10+ YEARS BUT ARE MONTH TO MONTH. THERE IS GREAT POTENTIAL TO INCREASE THE RENTS TO MATCH THE HIGHER RATES IN THIS MARKET. THIS BUILDING HAS PASSED THE 40-YEAR AND 50-YEAR RECERTIFICATION AND HAS ALL LICENSES/PERMITS/CERTIFICATIONS UP TO DATE WITH THE COUNTY/CITY. POTENTIAL TO GO VERTICLE UP TO 6 STORIES!

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