Saturday, May 4, 2019

Marcus & Millichap Arranges $4 Million Sale of 17,887-SF Naples, FL Retail Property

Jim Shiebler

 NAPLES, FL   – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of 12980 Tamiami Trail North, a 17,887-square foot retail property located in Naples, Fla., according to Grant Fitzgerald, sales manager of the firm’s Tampa office.

The asset sold for $4,050,000.

Jim Shiebler, James Garner and James Medefind, investment specialists in Marcus & Millichap’s Tampa office, had the listing to market the property on behalf of the seller, a private investor.  

James Garner

The buyer, a private investor, was also secured and represented by the same brokers.

“This asset and submarket are highly coveted and the buyer, who owns several additional retail assets in the area, understood and appreciated this,"  says Mr. Shiebler.

"We also sold the buyer on the below market rents, the stability of the long-term tenants and the fact that the property is situated at a major signalized intersection.

"Additionally, we emphasized this asset’s core real estate value as it will also continue to appreciate as the area is dense and has an average HH income of over $106K per year and an average home value of north of $500K.”

James Medefind
The Property is located on busy Tamiami Trail North which has traffic counts of 56,500 Vehicles Per Day.  

12980 Tamiami Trail North has great ingress and egress points and is fully stabilized with long term tenants. 


Grant Fitzgerald
Sales Manager, Tampa
(813) 387-4700