Marcus & Millichap Inc.

08/08/2022 | Press release | Archived content

Marcus & Millichap Brokers the Sale of Two Mixed-Use Buildings on Fort Lauderdale Beach for $3.99 Million

Press Releases

Marcus & Millichap Brokers the Sale of Two Mixed-Use Buildings on Fort Lauderdale Beach for $3.99 Million

August 08, 2022
FORT LAUDERDALE, Fla., Aug. 8, 2022 - Marcus & Millichap (NYSE: MMI) announced the sale of two mixed-use buildings located at 3100-3104 NE 9th Street in Fort Lauderdale, Florida. The fully occupied buildings sold for $3,998,000 million.

Marcus & Millichap's First Vice President Investments Ryan Shaw, along with Quinn Sousa, had the exclusive listing to bring the generational assets to market for the first time.

"This is the last pocket along the world-famous Fort Lauderdale beach area where development has not occurred. It still has an old-school Florida beach vibe," said Shaw. "Everything south of this location has seen luxury hotels and condos. This is really the last frontier."

The first building, 3100 NE 9th Street, consists of ground-floor retail and three second-story apartments. The second building at 3104 NE 9th Street is comprised of two ground-floor retail suites and three second-story apartments. Both lots combined total 13,168-square-feet.

The two buildings are within a block of Fort Lauderdale beach and are just minutes from The Galleria Mall, Bonnet House Museum & Gardens, Downtown Fort Lauderdale, and Las Olas. The properties offer ocean views and sit among numerous hotels, restaurants, bars, and shops along Florida State Road A1A.

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.