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Multi Family
560 Michigan Ave
560 Michigan Ave, Miami Beach FL 33139
$5,600,000
See estimated monthly cost
This listing is courtesy of The Corcoran Group. Frank Euler
Overview
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 ask us for proposed design renderings.
Facts & features
Building & exterior
- Year built
- 1937
Taxes
- Annual tax
- $61,192
- Tax year
- 2025
- Parcel number
- 02-42-03-009-7780
Listing
- MLS number
- A12094992
- Property type
- Multi Family
- Subdivision
- OCEAN BEACH ADDN NO 3
- On market since
- Sep 24, 2026
- Days on market
- 0
Estimated monthly cost
$37,616 per month
- Principal & interest (30 yr)
- $28,317
- Property tax
- $5,099
- Insurance (estimated)
- $4,200
An estimate for comparison only — not a loan offer, a quote, or a commitment to lend. Actual taxes, insurance and financing terms will differ.
Location
Nearby schools
- BaseCamp 305 Jr
- Miami Beach South Pointe Elementary
- South Pointe Elementary School
- Lubavitch Educational Center - Yeshiva Gedolah
- Miami Beach Adult & Community Education Center
- Miami Beach Fienberg/Fisher K-8 Center
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