Press Releases
Marcus & Millichap Closes $4.63 Million Sale of Small-Bay Retail Strip on Biscayne Boulevard
August 11, 2025
MIAMI, Aug. 11, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a five-tenant retail strip at 6815 Biscayne Blvd. in Miami, Florida. The property sold for $4,630,000.
“This deal closed at 98.5% of the list price and generated seven offers within two weeks of hitting the market. We priced it aggressively at a sub–5.5% cap, fully recognizing the strong demand for well-located multi-tenant retail along main thoroughfares,” said Jonathan De La Rosa, senior managing director, investments. “This deal clearly demonstrates the strong, pent-up demand for well-located, high-quality assets throughout Miami-Dade.”
De La Rosa, Eddie Toledo, Drew A. Kristol and Kirk D. Olson, investment specialists in Marcus & Millichap’s Miami office, represented the seller in the transaction.
Built in 2003, the 6,200-square-foot property sits on a 0.49-acre lot. Tenants include UPS, Subway, OrthoNOW, ABB Waxing and Luna Pasta Dolci, with an average tenure of more than 15 years. The property is at a signalized intersection on Biscayne Boulevard, with exposure to more than 40,000 vehicles per day. Recent improvements include a new roof and exterior upgrades. The property is in Miami’s MiMo District, near national retailers and residential developments, with convenient access to the Design District, Midtown Miami and downtown.
“This deal closed at 98.5% of the list price and generated seven offers within two weeks of hitting the market. We priced it aggressively at a sub–5.5% cap, fully recognizing the strong demand for well-located multi-tenant retail along main thoroughfares,” said Jonathan De La Rosa, senior managing director, investments. “This deal clearly demonstrates the strong, pent-up demand for well-located, high-quality assets throughout Miami-Dade.”
De La Rosa, Eddie Toledo, Drew A. Kristol and Kirk D. Olson, investment specialists in Marcus & Millichap’s Miami office, represented the seller in the transaction.
Built in 2003, the 6,200-square-foot property sits on a 0.49-acre lot. Tenants include UPS, Subway, OrthoNOW, ABB Waxing and Luna Pasta Dolci, with an average tenure of more than 15 years. The property is at a signalized intersection on Biscayne Boulevard, with exposure to more than 40,000 vehicles per day. Recent improvements include a new roof and exterior upgrades. The property is in Miami’s MiMo District, near national retailers and residential developments, with convenient access to the Design District, Midtown Miami and downtown.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
