Marcus & Millichap Inc.
06/03/2026 | Press release | Archived content
Marcus & Millichap Brokers $4.85M Sale of Miami Apartment Building
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Marcus & Millichap Brokers $4.85M Sale of Miami Apartment Building
June 03, 2026
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MIAMI, June 3, 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 Carol International Apartments in Miami. The asset sold for $4.85 million.
"We received substantial interest in the property, generating multiple offers and a competitive bidding process that ultimately resulted in a sale above the asking price," said Adam Marcuvitz, associate director investments in Marcus & Millichap's Miami office. "The property's location along the Miami River and favorable zoning made it a highly sought-after acquisition opportunity. Investors recognized the ability to generate near-term returns through a value-add business plan while preserving the option to capitalize on the site's long-term redevelopment potential as the surrounding area continues to evolve."
Marcuvitz, Joseph Thomas, Ethan Krauss and Alec Demetriou of Marcus & Millichap exclusively marketed the property on behalf of the seller.
Carol International Apartments is located at 1701 NW 27th Ave. The property features a two-story, 14,550-square-foot building on a 0.67-acre lot. The 30-unit mix includes five studio apartments, 24 one-bedroom apartments, and one two-bedroom apartment. The property offers future redevelopment potential under current zoning.
The property is in Miami's Little Havana neighborhood, just South of the Dolphin Expressway (state Route-836). It is walking distance to nearby neighborhood retail and recreational amenities and close to Miami International Airport.
"We received substantial interest in the property, generating multiple offers and a competitive bidding process that ultimately resulted in a sale above the asking price," said Adam Marcuvitz, associate director investments in Marcus & Millichap's Miami office. "The property's location along the Miami River and favorable zoning made it a highly sought-after acquisition opportunity. Investors recognized the ability to generate near-term returns through a value-add business plan while preserving the option to capitalize on the site's long-term redevelopment potential as the surrounding area continues to evolve."
Marcuvitz, Joseph Thomas, Ethan Krauss and Alec Demetriou of Marcus & Millichap exclusively marketed the property on behalf of the seller.
Carol International Apartments is located at 1701 NW 27th Ave. The property features a two-story, 14,550-square-foot building on a 0.67-acre lot. The 30-unit mix includes five studio apartments, 24 one-bedroom apartments, and one two-bedroom apartment. The property offers future redevelopment potential under current zoning.
The property is in Miami's Little Havana neighborhood, just South of the Dolphin Expressway (state Route-836). It is walking distance to nearby neighborhood retail and recreational amenities and close to Miami International Airport.
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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 https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on June 03, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 09, 2026 at 16:01 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]