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560 Michigan Avenue, Miami Beach, FL 33139

New Listing

$5,600,000

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https://www.propertypanorama.com/instaview/mia/A12094992

Property Type: Residential Income Status: Active

Current Price: $5,600,000 List Date: 9/24/2026 Last Modified: 9/24/2026

Overview

Description

This income producing property includes two renovated buildings in Miami Beach with furnished one & two bedroom apartments, licensed for short term rentals and currently leased on an NNN basis to an operating company. A future owner can choose to keep the operating company in place, enjoying steady income not subject to occupancy fluctuations, or instead operate under own management. The remodeled 9 units offer fully equipped kitchens & bathrooms as well as central AC. The property consists of two separate folios and is located on a double corner lot at 6th Street and Michigan Avenue in the heart of South Beach, close to the 5th Street Mall and the new Five Park residential tower & City park. Ocean Drive, the beach as well as the exclusive South of Fifth neighborhood are just blocks away, making this an extremely attractive location for visitors and short term tenants. Zoning is CPS2 commercial - residential mix used - FAR 2,which allows further development up to 20,000 Sq/Ft. Please a ... (Read more)

Listing Details MLS# A12094992

General Property Information

Number Of Units Total: 2
Year Built: 1937
Parking Total: 9
Lot Size Dimensions: 10000
Stories Total: 2
Pool Private YN: No

Property Features

Documents Available: Copy Of Lease(s); Financial Statement Flooring: Other Property Condition: Updated/Remodeled Structure Type: Multi Family Construction Materials: Block Cooling: Central Air Heating: Central; Separate Meters Listing Terms: Cash; Conventional Possession: Close Of Escrow; Subject To Tenant Rights Roof: Other Sewer: Public Sewer Tax Information: Tax Reflects No Exemptions Utilities: Cable Available Showing Requirements: Call Listing Agent Unit 1 Parking Features: Open Parking Unit 2 Parking Features: Open Parking

Contract Information

Comp Sale YN: No
Original List Price: 5600000

Location and Legal

Country: United States
County Or Parish: Miami-Dade
County Parish Name: Miami-Dade
Street Number: 560
Street Name: Michigan
Street Suffix: Avenue
City Name: Miami Beach
Municipal Code: 2
State Or Province: FL
Postal Code: 33139
Postal Code +4: 6318
Postal Zip: 33139
Subdivision Name: OCEAN BEACH ADDN NO 3
Area: 2420
Elementary School: Miami Beach South Pointe
Middle Or Junior School: Miami Beach Nautilus
High School: Miami Beach
Parcel Number: 0242030097780
Subdivision Number: 9
Zoning: 6503
Flood Zone: AE

Financial Information

Tax Annual Amount: 61192
Tax Year: 2025
Tax Legal Description: 3-4 54 42 3-4 53 42 OCEAN BEACH ADDN NO 3 PB 2-81 E100FT OF LOT 1 BLK 98 LOT SIZE 50.000 X 100 OR 21279-3773 022003 6 COC 24635-1561 06 2006

Status Change Information

Major Change Timestamp: 2026-09-24T04:00:00Z
Major Change Type: New Listing
Status Change Date: 2026-09-24

More Information

Income and Expenses

Gross Income: 19858

Unit 1 Details

Actual Rent: 11000
Baths Full: 5
Efficiency YN: No
Furnished: Furnished

Unit 1 Lease Description

Currently Leased YN: Yes

Unit 2 Details

Actual Rent: 8858
Baths Full: 4
Efficiency YN: No
Furnished: Furnished

Unit 2 Lease Description

Currently Leased YN: Yes

Section Details

Parcel Number MLX: 7780

Originating Details

Originating System Key: 564599777
Originating System ID: M00000151

Listing Office: The Corcoran Group

Last Updated: September - 24 - 2026

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560 Michigan Avenue, Miami Beach, FL 33139 (MLS# A12094992)