Marcus & Millichap announcedthe sale of 7-Eleven Real Estate & Business Opportunity-Miami Beach, a 4,370-square foot retail property located in Miami Beach, according to Ryan Nee, regional manager of the firm’s Miami office.
The asset sold for $11,250,000.
Alejandro D’Alba and Scott C. Sandelin, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.
“The sellers hired us to maximize value and from the onset of our marketing process we received multiple offers, which ultimately helped sell the property at list price. The quality of the fundamental real estate accompanied with strong cash flow helped us obtain full list price,” said D’Alba.
The 7-Eleven convenience store is located on 6348 Collins Avenue. The store property has the distinct advantage of having virtually no competition within this portion of the Miami Beach.
“It has historic high sales volumes that have been steadily increasing annually, as have gross profits. It has been operating at this location since 2009,” added Sandelin.
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