Updated Feb 3, 2026
Robert Kelbert Acquires Development Site In Southwest Ranches From Marilyn & Alcides Lugo For $4.95M
5401 Southwest 145th Avenue
$4,950,000
$1,110/SF
Building Size
4,457 SF
Asset Type
Development Site
Closing
Jan 22, 2026
About this deal
AI
The development site, located at 5401 Southwest 145th Avenue in Southwest Ranches, was sold for $4,950,000. The property spans 4,457 square feet and translates to a price per square foot of $1,110. The site offers opportunities for significant residential development.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,950,000
- Buyer: Robert Kelbert
- Seller: Marilyn & Alcides Lugo
- Buyer's Representative: Joseph Suarez - Trustpoint Realty
- Seller's Representative: Alexander Fernandez - AFREALESTATEPA
- Square Footage: 4,457
- Price per Square Foot: $1,110
- Market: Southwest Ranches
Following the acquisition, plans have commenced for the construction of a 30,000-square-foot private castle, with the intention of establishing a generational landmark. The buyer's representative, Joseph Suarez, is affiliated with Trustpoint Realty, while the seller's representative, Alexander Fernandez, operates under AFREALESTATEPA.
Players
Fort Lauderdale Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.20%
Cash-on-Cash
-0.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93