$6.1M North Miami Development Site Acquired By Buyer's Rep John Sasso & Seller's Rep Juan Sotolongo & Jesse Spencer

A 2.11-acre development site located at 12200 NE 14th Ave in North Miami has been sold for $6.1 million. The property, which is zoned M-1 Industrial, is situated within the North Miami Transit Station Overlay District, allowing for various development options including industrial, residential, retail, office, mixed-use, or hotel. The transaction was completed off-market.

Summary of Transaction Details

• Property Type: Development Site
• Transaction Amount: $6,100,000
• Address: 12200 NE 14th Ave, North Miami
• Square Footage: 14,693 SF
• Price per Square Foot: $415

The buyer was represented by John Sasso from The Upside Property Advisors at Charles Rutenberg Realty, and Andrew Nabutovskiy from SIR Realty. On the other hand, the seller was represented by Juan Sotolongo and Jesse Spencer of J+ Group at Compass | Commercial.

It's worth noting that the sale price matched the asking price of $6.1 million.

Note from Broker: The property's desirable location and the flexibility provided by the overlay district made it an attractive investment opportunity.