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| Alex Zylberglait |
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 3070 SW 38th Court, an 8,460-square foot land parcel located in Miami. The
asset sold for $1,350,000.
Alex D. Zylberglait, a senior vice president investments, and Dave Heaslip, an associate, both in Marcus & Millichap’s Miami
office, had the exclusive listing to market the property on behalf of the
seller, a limited liability company from Coral Gables, Fla.
“This submarket is
experiencing high population growth and property values are appreciating,” says
Zylberglait.
“The high demand for
available properties in the area translated into an excellent selling price for
the seller and a tremendous investment opportunity for the buyer,” adds
Heaslip.
Located near the
intersection of SW 40th Street (Bird Road) and Ponce De Leon Boulevard in
Miami, the property is zoned commercial (T6-12-O) which allows for the construction
of office, retail, and multi-family structures of up to 12 stories in height.
The property currently contains a 6,000-square foot office/industrial warehouse
building.
3070 SW 38th Court is
located just steps away from a newly completed mixed-use condominium and
office/retail development site as well as a new multifamily development, Aviva
Coral Gables. It is also near the Miami International Airport and the Dolphin
Expressway - providing easy access to downtown Miami and Miami Beach.
For a complete copy of the company’s news release,
please contact:
Kirk A. Felici
First Vice
President/District Manager
Miami, FL
(786) 522-7000
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