Lennar Corp. paid $19.5 million for a 58-acre lot near Cutler Bay, as the homebuilder continues to buy property in south Miami-Dade County.
The Miami-based homebuilder bought the property tucked behind Southwest 104th Avenue for $336,206 per acre. The seller was H.R. Realty and Investments of Coral Gables, records show.
The property does not have an exact address, and its primary use is for lime groves, but it is zoned for multifamily, according to records. The property sits right off the Florida Turnpike and behind a community called the Enclave at Black Point Marina. Most of the site is a lake called Turkey Vulture Lake.
Lennar is aggressively buying properties in south Miami-Dade County as land becomes more scarce. Rising home and land prices have forced families and potential homeowners to move further south to find affordable homes.
In April 2018, Lennar paid $4.5 million for 32.7 acres of farmland near Zoo Miami. The company also spent $10.75 million in 2017 for about 77 acres in Homestead, just west of the Turnpike along Mowry Drive and Southwest 152nd Avenue.