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| 3023 Biscayne Boulevard, 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 the sale of 3023 Biscayne Boulevard,
20,240-square feet of land located in Miami.
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| Ryan T. Shaw |
The asset sold for $5,900,000 representing nearly $300 per
square foot.
Ryan T. Shaw, an associate vice president investments
in Marcus & Millichap’s Miami office, represented the seller, a limited
liability company from Hollywood, Fla and secured the buyer, a limited
liability company from Miami.
“The property's close proximity to luxury condominiums,
national retailers, and access to the interstate, makes this a perfect
opportunity for a mixed-use project offering high-end residential units and
retail space for new national tenants entering the market,” says Shaw.
Located on Biscayne between NE 30th and NE 31st Street, the
property consists of two parcels totaling approximately 20,240 square feet.
The
zoning, under Miami 21, is T6-36A-O which allows for the development of 242,880
square feet with a total height of 36 floors. The zoning buildable units is
approximately 69 units.
The subject property sits just blocks away from several
large development projects. These major projects consist of The Related Groups'
Icon Bay, Resorts World Miami, the
Design District, and Midtown.
For a complete
copy of the company’s news release, please contact:
Kirk A. Felici
First Vice President/Regional Manager
Miami, FL
(786) 522-7000
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