Toyota of North Miami paid $12.5 million for a 140,000-square-foot office building near Miami Gardens that was formerly leased to the Federal Bureau of Investigations.
The car dealership purchased the vacant property at 16320 Northwest Second Avenue for $89.3 per square foot, records show. The seller is G.K.K. Inc., which is tied to George Goldbloom of Coral Gables.
The Class B office building was last sold in 1986 for $1.67 million, according to records. It sits on almost 8 acres near I-95, the Palmetto Expressway and the Florida Turnpike, and close to North Miami Beach and Miami Gardens.
Marcus & Millichap’s Alex D. Zylberglait represented the seller and the buyer in the deal.
The office property could be redeveloped. Zoning allows for a maximum height of two stories or 24 feet.
Zylberglait also recently secured a listing for a 30,000-square-foot Opportunity Zone site in the burgeoning Edgewater neighborhood of Miami. It hit the market in August for $13.5 million.