J+ Group at Compass Commercial Represents Buyer in Acquisition of Commercial Kitchen in Little River.

A fully built-out, 4,065-square-foot commercial kitchen in Miami’s Little River neighborhood has sold for $2.4 million, or approximately $590 per square foot. The transaction reflected an in-place capitalization rate of approximately 7.3%.

Built in 1960, the single-story property occupies an 8,640-square-foot lot zoned T6-8-O and features on-site parking. The facility was sold as a turnkey operating kitchen equipped with commercial hood systems, an updated grease interceptor, and multiple walk-in coolers and freezers.

The property is fully leased on a triple-net basis to Island Kitchen InFlight, the private aviation catering division of Island Kitchen, the Nantucket-based restaurant and catering company founded by chef Patrick Ridge. Island Kitchen has catered private flights since 2018 and currently serves 15 airports across Nantucket and South Florida, including Miami International, Miami-Opa Locka Executive, and Fort Lauderdale Executive.

The lease includes built-in annual rent increases, providing contractual income growth for the new ownership.