829 4th St,
829 4th Street is a RARE OPPORTUNITY TO OWN a CPS-2 – GENERAL MIXED USE COMMERCIAL ZONING PROPERTY, located in the highly sought-after South of Fifth (SOFI) neighborhood in Miami Beach. The property is sitting on a 5,000 square foot lot, non-historic designation, with the capability of renovating the existing building size up to 5 times greater than it stands today. Zoned will allow a new construction of up to 10,000 square feet, 7,500 of living area and four stories high. The maximum Flood Area Ratio (FAR) is: 2.0. Currently the property is being operated as a 4-Plex short-term rental product @ fully stabilized the anticipated annual NET RENTAL INCOME “NOI” of $148,914.57, with a Overall Capitalization Rate (OAR) of 4.68%.
Ocean Beach Addn No 3