46-acre site in Southwest Ranches hits the market for $16M
Tuesday Aug 22nd, 2017Share
A 46-acre development site in Southwest Ranches just hit the market for $15.75 million.
The plot of land, on the northwest corner of Sheridan Street and Flamingo Road, is asking for about $342,000 per acre. Records show the owner, Canyon Creek Estates LLC, is led by Ameristar Properties of South Florida, Ernest Caparelli, Shlomo Espstein and Joseph Caparelli. The LLC bought the property in 2004 for $8.9 million.
The site is zoned for about 20 homes and estates of up to two acres, said listing agent Ryan Shaw of Marcus & Millichap. He’s targeting luxury home builders, but the site could also be developed into a polo club or equestrian facility.
Houses at a nearby community called Reserve at the Ranches are priced up from $2 million.
Southwest Ranches lies on the eastern edge of the Everglades in Broward County. The town has been home to a number of professional athletes and celebrities, including Dwayne “The Rock” Johnson, Cleveland Browns’ Karlos Dansby and NFL cornerback Asante Samuel. Even Kentucky Derby winner racehorse “Spend A Buck” once trotted on a 48-acre estate in the rural city.