Sunday, May 29, 2016

Two-Story Edgewater Retail Property on Market for $6.75 Million on Biscayne Boulevard, Miami, FL

2400 Biscayne Boulevard, Edgewater Submarket
Miami, FL
MIAMI, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that it has obtained the exclusive listing for 2400 Biscayne Boulevard, an 11,516-square foot corner retail property in the Edgewater submarket of Miami. The asset is listed for $6,750,000.

“This is a great repositioning opportunity of a high street retail property located in Miami’s predominant furniture corridor,” says Scott C. Sandelin, a vice president investments in Marcus & Millichap’s Miami office. “The current tenant is on a month-to-month lease and can either vacate at close or stay on for six months with increased rent.”

Scott C. Sandelin
Sandelin, along with Alejandro D’Alba, an associate also in Marcus & Millichap’s Miami office, have the exclusive listing to market the property on behalf of the seller.

“Unlike ‘redevelopment’ opportunities available in this market, this is a straight-forward retail deal. We expect it will garner significant interest from both local and national investors who are looking to own a piece of this main Miami artery,” adds D’Alba.

The two-story retail building sits on a 12,650-square-foot lot on the corner of 24th Street and Biscayne Boulevard. To the east of the property is Edgewater’s high density residential district and Wynwood is directly west. A new roof with a transferable warranty was installed last year.

For more information on 2400 Biscayne Boulevard, contact Scott Sandelin or Alejandro D’Alba at (786) 522-7000.

For a complete copy of the company’s news release, please contact:

Kirk Felici, Regional Manager
(786) 522-7000

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