Marcus & Millichap Brokers $3.4 Million Miami Mattress Firm Sale

Marcus & Millichap announced the sale of a Mattress Firm located at 7815 Bird Road in Miami.

The property sold for $3,355,267 at a 4.52% cap.

The store, built in 1996, is situated on a 15,625-square-feet lot.

“Miami is continuing to emerge as a global hub for major investment opportunities. Bird Road is a main corridor in Miami that attracts both local and international investors who understand the value of great, strategically located real estate, and are willing to pay a premium for it. We were able to bring an international buyer out of Mexico to the table before we even listed the property, and closed within 45 days.” said Brandon Holmes, Associate of Marcus & Millichap.

Holmes and Jonathan De La Rosa, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, Marilyn Wallach. The buyer, a private investor, was also procured by De La Rosa and Holmes.

Mattress Firm is located in a major retail corridor within close proximity to major retailers including Target, CVS, Best Buy and American Signature Furniture and the Palmetto Expressway.