Marcus & Millichap Inc.

04/11/2024 | Press release | Distributed by Public on 04/11/2024 17:24

Marcus & Millichap Facilitates $4.7M Sale of Three-Tenant 7-Eleven in Orlando

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Marcus & Millichap Facilitates $4.7M Sale of Three-Tenant 7-Eleven in Orlando

April 11, 2024
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ORLANDO, Fla., April 11, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a three-tenant 7-Eleven in Orlando, Florida, for $4,686,956.

"7-Eleven gas stations, especially those priced below $5 million, are very attractive in this market due to the strength of the tenant and the ability to utilize accelerated depreciation," says Gabriel Britti, senior managing director investments. "Within just 24 hours of initiating our marketing efforts, we received multiple offers for this site. This rapid response from investors not only highlights the property's appeal but also reflects the robust interest in similar investment opportunities within the market," adds Ronnie Issenberg, senior managing director of investments.

Britti, Issenberg, and Ricardo Esteves of Marcus & Millichap's Issenberg Britti Group had the exclusive listing to market the property on behalf of the seller, and procured the buyer, a local LLC.

The three-tenant 7-Eleven, spanning a 1.31-acre parcel and including a Check Cashing Store and Valvoline Store, is located at 11804 E Colonial Dr. The property is situated in a dense retail corridor with daily traffic counts exceeding 109,500 vehicles per day, surrounded by educational institutions such as Barry University, Florida Technical College, and the University of Central Florida.

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About Marcus & Millichap, Inc. (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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.