Marcus & Millichap (NYSE: MMI), a leading commercial real estate?brokerage firm specializing in investment sales, financing, research and advisory services, announced today?the?exclusive listing?of?a 1.4-acre development site located in?Miami Beach,?FL. The property is situated on the SW corner of Washington Avenue and 16th Street, one block south of Lincoln Road in the heart of South Beach.?

“The property?is?being marketed unpriced and offered for sale by an owner that has acquired the portfolio individually over the past 40+ years,” stated Evan Kristol, an Executive Managing Director in Marcus & Millichap’s?Ft. Lauderdale?office.

“This opportunity gives the investor the ability to control one of the largest contiguous sites in the heart of South Beach spanning one-half of a city block while receiving a cash flow during the hold period. Furthermore, controlling seven separate parcels provides flexibility to sell individual parcels, if needed.”?said?Felipe Echarte,?a Senior Vice President in Marcus & Millichap’s?Ft. Lauderdale?office.

Evan P. Kristol, Felipe J. Echarte and Marc E. Strauss, investment specialists in Marcus & Millichap’s Fort Lauderdale office, have the exclusive listing to market the property on behalf of the seller, a limited liability company. ??

About Marcus & Millichap (NYSE: MMI)

With over 2,000 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 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap 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.