The Real Deal Miami

Kendall tract sells for $7 million

September 07, 2012 09:00AM

The Tamiami plot

A 17.1-acre tract of land in the Kendall/Tamiami submarket has been sold for $6.9 million, according to Continental Real Estate Companies, which brokered the transaction on behalf of the seller. The property, which is located at 14350 SW 137th Avenue in southwestern Miami-Dade County, is zoned for the development of as much as 195 rental townhome units. The price represented an average of $35.385 per potential unit. “A lack of sites available for garden-style rentals drove the demand for this entitled development site in the Kendall/Tamiami area,” said Peter Mekras, a senior vice president at CREC who handled the deal along with senior associate Liran Friedman. — Alexander Britell