MIAMI, FL, June 4, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 2929 SW 3rd Avenue, an 18,820-square foot office property located in Miami. The asset sold for $2,800,000.
Alex D. Zylberglait, a first vice president investments in Marcus & Millichap’s Miami office, represented the seller, a limited liability company from Miami, and the buyer, a limited liability company from North Miami.
“This was an opportunity for an investor to acquire a well-maintained, 21-unit building in the heart of the Coral Way submarket. The Coral Way corridor of Miami benefits from its proximity to the cultural center of downtown Miami, the Brickell Avenue financial district and the Coral Gables Central Business District,” says Zylberglait.
The six-story, multi-tenant office building was built in 1973 and is constructed of concrete block. There are 38 assigned parking spaces, including covered parking on the first floor. Minutes from Interstate 95 and the Miami International Airport, the property is located at 2929 SW 3rd Avenue in Miami.