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| 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.”
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| 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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