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
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
Boundary boundary · Development Site · Sale transactions
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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