Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the $1.5 million sale of Miami International Airport Apartments, an 11-unit, 43,560-square-foot lot located in Virginia Gardens, FL.

Jorge Ruiz, senior associate in Marcus & Millichap’s Miami office, had the exclusive listing. AssociateAlejandro Gonzalez, Vice President Investments Felipe Echarte, and Senior Vice President Investments Evan Kristol in Marcus & Millichap’s Fort Lauderdale office secured and represented the buyer.

Occupying 5979 NW 37 Street in Virginia Gardens, FL, the asset is strategically positioned next to one of Miami’s largest employers, Miami International Airport. “The purchaser will benefit from Virginia Gardens’ low vacancy market, located just east of Doral’s exploding submarket in Miami Dade,” says Ruiz. The property contains a mix of efficiency units, one-bedroom units and a two-bedroom unit, with allowance of up to 30 units.

About Marcus & Millichap (NYSE: MMI)

With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com