L2B Invest Pays $33M for Medley Truck Stop, Up 40% in Weeks
The county's own deed record turns a single headline sale into a flip, with a price-per-square-foot jump nobody else has run.
Miami-based L2B Invest paid a reported $33 million for the Mobil-branded truck stop at 12200 NW South River Drive in Medley, buying from an affiliate of Las Vegas-based LV Petroleum, The Real Deal reported July 29. Miami-Dade County’s own deed record shows LV Petroleum’s affiliate, Medley Holdings FL LLC, bought the same site for $23.55 million just ten weeks earlier, on May 16, 2026, from South Florida Truck Stop Inc, a $9.45 million gain of roughly 40 percent.
Why it matters
The flip is a live data point on what fuel-and-logistics land is worth right now in Medley, one of South Florida’s tightest industrial submarkets, wedged between the Palmetto Expressway and Miami International Airport’s cargo apron. Infill sites here rarely trade, so two arm’s-length prices on the same parcel inside a single year is a real land-basis benchmark for any developer or investor pricing a site-selection decision in the corridor. A 40 percent markup in under three months says LV Petroleum, and now L2B, are pricing this land well above where it traded even five months ago.
The numbers
The site is a single, consolidated 62,393-square-foot parcel, 1.43 acres, zoned Industrial-Light Manufacturing, per the Property Appraiser’s folio for 12200 NW South River Drive. It carries a 3,530-square-foot service station building and a 3,784-square-foot fuel canopy, both built in 2004, plus a smaller structure added in 2014. That puts the reported $33 million price at roughly $529 per square foot of land, up from $377 per square foot when LV Petroleum bought in May, both calculated from the recorded deed prices and the county’s own lot size. The May deed, recorded at Official Records Book 35324, Page 1883, carried $141,300 in documentary stamp taxes.
What’s next
Miami-Dade’s official records had not yet recorded a deed for the reported July sale as of this writing, typical for a closing that recent. Watch for that filing to confirm the exact buyer entity and final consideration, and for any site plan or permit activity signaling whether L2B keeps running fuel and truck parking here or repositions the site for logistics use.
On the record
What we checked ourselves, and where you can check it too.
- Public recordMiami-Dade County's deed record shows LV Petroleum's affiliate, Medley Holdings FL LLC, bought this same site for $23.55 million on May 16, 2026, ten weeks before the reported $33 million resale, a $9.45 million gain of about 40 percent.View the record on apps.miamidadepa.gov
- Public recordThe Property Appraiser's folio shows a single consolidated 62,393-square-foot parcel (1.43 acres) zoned Industrial-Light Manufacturing, putting the reported $33 million price at roughly $529 per square foot of land, up from $377 per square foot in May, both figures calculated from the deed prices and the county's lot size.View the record on apps.miamidadepa.gov
Sources
- The Real DealSouth Florida's top deals: Kamson buys West Palm Beach condo building for $90M
- Miami-Dade Property AppraiserProperty record, folio 22-2029-024-0010, 12200 NW S River Dr, Medley
- HoodlineLas Vegas Firm Buys Miami-Dade Truck Stop For $20M