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

The property sold for $55 psf

TRD 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
249 Northwest 6th Street and Michael Swerdlow (Google Maps, Swerdlow Group)

Developers buy land, score $25M loan for Target-anchored mixed-use project in Overtown

Developers buy land, score $25M loan for Target-anchored mixed-use project in Overtown
1100 Biscayne Boulevard, Miami

Marquis vs. ‘The King of Miami Real Estate’: Condo tower seeks to evict agent for not wearing face mask

Marquis vs. ‘The King of Miami Real Estate’: Condo tower seeks to evict agent for not wearing face mask
(iStock)

A buyer’s market: Condo supply soars in downtown Miami

A buyer’s market: Condo supply soars in downtown Miami
Nitin Motwani, Sankesh Abbhi and 1016 Northeast Second Avenue (Google Maps)

Miami Worldcenter developer sells site to Abbhi Capital for $24M

Miami Worldcenter developer sells site to Abbhi Capital for $24M
One Thousand Museum

Chicago investor pays $11M for units at One Thousand Museum

Chicago investor pays $11M for units at One Thousand Museum
Dan Kodsi and Legacy Hotel & Residences

For future pandemics, Miami Worldcenter plans $60M health center

For future pandemics, Miami Worldcenter plans $60M health center
Denis-Christel Sassou Nguesso and 900 Biscayne Boulevard (Credit: Wikipedia and Facebook)

Congo president’s son allegedly used embezzled money to buy Miami condo

Congo president’s son allegedly used embezzled money to buy Miami condo
Southland Mall in Cutler Bay, Hazem Ben-Gacem, Investcorp’s Co-Chief Executive Officer (Credit: Google Maps)

Wells Fargo says mismanagement by Southland Mall owner contributed to downfall

Wells Fargo says mismanagement by Southland Mall owner contributed to downfall
arrow_forward_ios

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

Loading...