Press Releases
Marcus & Millichap Brokers $5.3M Sale of Chipotle in Miami’s MiMo District
October 16, 2026
MIAMI, Oct. 16, 2026 – 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 Chipotle in the MiMo District of Miami, Florida. The asset sold for $5,324,000.
“In the current elevated interest rate environment, there is still demand for best-in-class, well-located assets with long-term leases backed by credit-rated tenants,” said Scott Sandelin, senior managing director investments in Marcus & Millichap’s Miami office. “In this scenario, the marketing campaign ultimately identified a buyer who was willing to pay up for the opportunity, resulting in a purchase price north of $5.3 million at a 3.85% cap rate.”
Sandelin and Jonathan De La Rosa of Marcus & Millichap represented the seller, a partnership which included the operator of the former Burger King location.
The property is 2,989 square feet on a 0.77-acre lot. It was built in 2002 and completely renovated in 2025. The building formerly served as a quick-service restaurant before being converted into a Chipotle with a drive-thru “Chipotlane.”
The property is located at 5396 Biscayne Blvd. in one of Miami's most heavily traveled commercial corridors. It is surrounded by high-end retail, multifamily and mixed-use developments. The area is densely populated, with over 582,000 residents within a five-mile radius. The property is close to Interstates 95 and 195 and direct routes to Miami Beach and downtown Miami.
“In the current elevated interest rate environment, there is still demand for best-in-class, well-located assets with long-term leases backed by credit-rated tenants,” said Scott Sandelin, senior managing director investments in Marcus & Millichap’s Miami office. “In this scenario, the marketing campaign ultimately identified a buyer who was willing to pay up for the opportunity, resulting in a purchase price north of $5.3 million at a 3.85% cap rate.”
Sandelin and Jonathan De La Rosa of Marcus & Millichap represented the seller, a partnership which included the operator of the former Burger King location.
The property is 2,989 square feet on a 0.77-acre lot. It was built in 2002 and completely renovated in 2025. The building formerly served as a quick-service restaurant before being converted into a Chipotle with a drive-thru “Chipotlane.”
The property is located at 5396 Biscayne Blvd. in one of Miami's most heavily traveled commercial corridors. It is surrounded by high-end retail, multifamily and mixed-use developments. The area is densely populated, with over 582,000 residents within a five-mile radius. The property is close to Interstates 95 and 195 and direct routes to Miami Beach and downtown Miami.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
