551 Michigan Ave · Miami Beach, FL 33139 · South Beach

551/557 Michigan

2-story low-rise, completed 1945, 20 residences in South Beach. 2 for sale and 1 for rent on Nov 2, 2026.

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At a glance 551/557 Michigan (551 Michigan Ave, South Beach) is a 2-story, 20-unit building completed in 1945. As of Nov 2, 2026, 2 units are for sale and 1 is for rent; the median closed price was $509 per square foot over 3 sales in the last 24 months. FEMA flood zone AE. Source: Miami Assoc. of REALTORS® MLS via Bridge IDX, Miami-Dade Property Appraiser records and the FEMA flood map.

Photo · MLS listing in this building

For sale
2
For rent
1
Median $/SF
$5093 sales · 24 mo
Sold
1last 12 months
Built
1945
Floors
2
Residences
20
Flood zone
AEFEMA

MLS via Bridge IDX · as of Nov 2, 2026 · How these numbers are made

On the market at 551/557 Michigan.

The weekly MLS snapshot, newest asks first. Each unit opens its full listing: photos, taxes, history. Or check the live feed for today's inventory.

Snapshot as of Nov 2, 2026.

Listings matched to this building's recorded addresses. I don't have to be the listing agent to show you any unit or to negotiate for you. Search condos in 33139

The read on 551/557 Michigan.

Activity as of Nov 2, 2026
  • A renters' building. Leases outnumbered sales 9 to 1 over the last 12 months (9 leases, 1 sale), at a median $2,000 a month.
Read the full record 3 paragraphs and 7 facts, every figure from the MLS and county record

Built in 1945, 551/557 Michigan is a two-story low-rise at 551 Michigan Ave in South Beach. 20 residences are on record for the building.

On November 2, 2026, two units were listed for sale, asking $240K to $260K ($476 to $610/SF). One sale closed between November 2, 2025 and November 2, 2026 at $250K, $480/SF. The year before saw two closed sales.

One unit was offered for rent at $2,100 a month. Nine leases were signed over the same 12 months, at a median $2,000 a month (range $1,800 to $2,250). Leases outnumbered sales 9 to 1 over that year, so renters are a large share of who lives here.

Sources: Miami Assoc. of REALTORS® MLS via Bridge IDX (activity as of November 2, 2026), Miami-Dade Property Appraiser records. Blanks mean the record doesn't state it; nothing here is estimated.

The record

Address
551 Michigan Ave, Miami Beach 33139
Neighborhood
South Beach
Year built
1945
Floors
2
Residences on file
20
Recorded MLS listings
56
Also recorded as
557 Michigan Ave

The numbers at 551/557 Michigan.

Every sale and lease the MLS has recorded at this address, sales first.

MLS via Bridge IDX · as of Nov 2, 2026

Median $/SF by year closed

Every recorded sale at this address, 2020 to 2026. Count in the tooltip.

$295$590$3682020$5282022$5902023$4612024$5522025$4802026$295$590$3682020$5282022$5902023$4612024$5522025$4802026

Pale bars: fewer than three sales that year, so the bar is the sale itself or the average of two, too few for a median.

Year by year, every recorded closing
YearSalesMedian $/SFLeasesMedian rent
2026 (to date)1$480*9$2,000/mo
20251$552*4$1,975/mo
20242$461*7$1,950/mo
20232$590*4$1,975/mo
20221$528*3$2,200/mo
2021––9$1,650/mo
20202$368*6$1,350/mo

* Fewer than three closings that year: the figure is the closing itself or the average of two, too few for a median.

Show all closings 10 sales · 42 leases on record since 2020

Closed sales Nov 2, 2024 to Nov 2, 2026 · 3

UnitBDBASFAskedClosed$/SFClose dateDOM
211 W/PARKING11521$299,000$250,000$480Oct 30, 202632
12511426$239,000$235,000$552Sep 17, 2025381
12111521$285,000$265,000$509Nov 13, 202478

Leases signed Nov 2, 2025 to Nov 2, 2026 · 9

UnitBDBASFAsked/moLeased/mo$/SF/moLease dateDOM
211+Parking11521$2,300/mo$2,250/mo$4.32Nov 1, 202628
11111521$2,200/mo$1,900/mo$3.65Aug 16, 2026113
11411504$1,995/mo$1,900/mo$3.77Jun 29, 202621
21211521$2,200/mo$2,200/mo$4.22May 20, 202633
11311504$1,850/mo$1,850/mo$3.67Apr 16, 202622
11511426$1,800/mo$1,800/mo$4.23Feb 23, 202648
211 +Parking11521$2,200/mo$2,150/mo$4.13Feb 15, 20267
12211521$2,000/mo$2,000/mo$3.84Jan 15, 202662
12311504$2,100/mo$2,050/mo$4.07Jan 9, 2026107

Data: Miami Assoc. of REALTORS® MLS via Bridge IDX, as of Nov 2, 2026. Listings matched to this building's recorded addresses; pending includes under-contract. Closed listings shown as records only, no photos. Blanks mean the record doesn't state it. How these numbers are made

The file on 551/557 Michigan.

The rules on record, the documents in my files, the two Florida checks every buyer should run, and the buildings around it. Each card opens.

FEMA flood zone

AE

Inside FEMA's Special Flood Hazard Area. A federally backed mortgage requires flood insurance here.

What the zone means
  • The 1% annual chance ("100-year") flood area, with a base flood elevation set.
  • Base flood elevation 8 ft (NGVD29).
  • The zone is a map line, not a premium. Ask the association for its master flood policy, and get a flood quote for the specific unit before you commit.

FEMA National Flood Hazard Layer, checked at the building's mapped location on Oct 12, 2026. Open the official map ↗

Nearby

Around 551/557 Michigan

5 more nearby

Smaller buildings close by: Miami Beach Townhouses (80 m) · 600 Michigan (80 m) · Jefferson Development (150 m) · Lenox on the Beach (200 m) · The Jefferson (220 m) · The Manhattan (230 m)

Compare with the two nearest →Every South Beach building →Distances are straight-line. Building data from Miami Assoc. of REALTORS® MLS records via Bridge IDX.

Own here, or looking here

Owners: tell me your unit and I'll prepare its value myself. Buyers and renters: I'll tell you when a unit here lists or sells. Either way it starts a conversation with me, not a mailing list.

Own here?

Get your unit's value

Tell me your unit and I'll prepare its value myself, from 551/557 Michigan's closed sales and what is listed now. Then we talk it through.

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Enrique Ponte Ojeda on a balcony overlooking the water in Miami
I read the building before you buy or sell a unit in it.Closed history, the association's rules, what is really for sale and what it should trade at. Then we talk.
Enrique Ponte Ojeda
Licensed Florida Real Estate Agent · Carmona Realty Group

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