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 for sale of a 2.8-acre development site located at 3333 Biscayne Boulevard in Miami’s Edgewater submarket. The price is $49.5 million.

“This large-scale, high-density site is an assemblage of 11 parcels with substantial Biscayne Boulevard frontage,” said Landy Toledo, first vice president investments and director in Marcus & Millichap’s National Multi Housing Division. Toledo, based in Marcus & Millichap’s Miami office, has the exclusive listing to market the property on behalf of the seller, a private investor. “All existing tenants are short-term,” added Toledo. “The assemblage currently has a combined annual effective gross income of $918,542.”

The properties encompass an entire block stretching from Biscayne Boulevard to NE 5th Avenue between NE 33rd Street and NE 34th Street.

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.