Toyota car dealer picks up Sunshine Kia of Miami site for $6M

The property sold for $55 psf

Miami /
Sep.September 18, 2019 01:30 PM
Sunshine Kia of Miami (Credit: Google Maps)

Sunshine Kia of Miami (Credit: Google Maps)

The Sunshine Kia of Miami property site sold for $6.4 million.

SAG Realty sold the 117,074-square-foot property at 17120 South Dixie Highway for $55 per square foot to a company tied to Mario J.T. Benedetti of South Dade Toyota, records show.

Benedetti secured a $4.9 million loan from Ally Bank, according to records.

SAG Realty, which is led by Rod Rifai of Performance Automotive Group, bought the property in 2008 for $5 million.

The car dealership, which is between Palmetto Bay and Cutler Bay, was built in 1987. The sales office and building on the property totals 15,798 square feet.

Benedetti is the CEO and dealer principal at South Dade Toyota at 29330 South Dixie Highway.

Car dealerships are becoming more valuable in South Florida as land becomes more scarce. In November, HGreg.com bought a former Nissan dealership in Delray Beach from AutoNation for $11 million. In January 2018, automobile titan Terry Taylor bought an auto dealership in Royal Palm Beach for $44.7 million.


Related Articles

arrow_forward_ios
Fuse Group Investment CEO Eyal Peretz and attorney Michael Ehrenstein (Fuse, Ehrenstein Sager, Twitter via GUT Miami)
Fuse Group acquires Security Building in downtown Miami, plans to sue WeWork for alleged lease breach
Fuse Group acquires Security Building in downtown Miami, plans to sue WeWork for alleged lease breach
Moishe Mana and one of the properties that's located on Flagler Street. (Getty, Google Maps)
Moishe Mana expands downtown Miami assemblage with $27M purchase
Moishe Mana expands downtown Miami assemblage with $27M purchase
One Thousand Museum with developer Louis Birdman (Getty, One Thousand Museum)
One Thousand Museum developers refund nearly $1M deposit for condo purchase in legal dispute
One Thousand Museum developers refund nearly $1M deposit for condo purchase in legal dispute
The assemblage in downtown Miami
Downtown Miami dev site zoned for 80-story tower hits the market
Downtown Miami dev site zoned for 80-story tower hits the market
(Photos courtesy of Miami Historic Preservation, Smith Aerials, Colliers)
Development site near MiamiCentral hits the market
Development site near MiamiCentral hits the market
Clockwise from left: Citigroup Center at at 201 South Biscayne Boulevard, Monarch Alternative Capital CEO Michael Weinstock, Crocker Partners’ Angelo Bianco (Daniel Christensen/Wikipedia, Monarch, Crocker Partners)
Monarch paying $300M for downtown Miami office tower
Monarch paying $300M for downtown Miami office tower
East End Capital’s Jonathon Yormak, BentallGreenOak’s Sonny Kalsi and 100 Biscayne Boulevard. (East End Capital, BentallGreenOak)
East End Capital, Australian investors lose suit over $6M deposit in failed downtown Miami office tower sale
East End Capital, Australian investors lose suit over $6M deposit in failed downtown Miami office tower sale
Ryan Shear and Michael Simkins (VC Consulting)
E11even condo tower planned for downtown Miami reaches 90% of units under contract in two months
E11even condo tower planned for downtown Miami reaches 90% of units under contract in two months
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...