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| 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.
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| 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.”
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| 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.
CONTACT:
Grant Fitzgerald
Sales Manager, Tampa
(813) 387-4700