Press Releases
Marcus & Millichap Arranges $8.85 Million Sale of Little Havana Retail Strip
April 18, 2025
MIAMI, April 18, 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 Village Shoppes, a multi-tenant retail center in Miami, Florida, for $8,850,000.
“This successful transaction highlights the sustained demand for well-located urban core assets, even as the market adjusts to elevated interest rates and a broader cooling in activity,” said Jonathan De La Rosa, senior vice president investments. “This sale reflects the resilience of Miami’s urban core real estate market. Buyers recognize the long-term value and future upside Little Havana offers. Our team has successfully closed more than 70 transactions totaling over $165 million in the Little Havana neighborhood alone over the past decade.”
De La Rosa and Eddie Toledo, investment specialists in Marcus & Millichap’s Miami office, exclusively marketed the property on behalf of the seller and procured the buyer, CMC VS, LLC.
Located at 503-533 SW 12th Ave., Village Shoppes totals 26,648 square feet of rentable space across two parcels on 40,200 square feet of land. The site includes 33 retail bays, 30 parking spaces and more than 325 feet of frontage on 12th Avenue. The property is zoned T5-O, allowing for future development of up to eight stories.
“This successful transaction highlights the sustained demand for well-located urban core assets, even as the market adjusts to elevated interest rates and a broader cooling in activity,” said Jonathan De La Rosa, senior vice president investments. “This sale reflects the resilience of Miami’s urban core real estate market. Buyers recognize the long-term value and future upside Little Havana offers. Our team has successfully closed more than 70 transactions totaling over $165 million in the Little Havana neighborhood alone over the past decade.”
De La Rosa and Eddie Toledo, investment specialists in Marcus & Millichap’s Miami office, exclusively marketed the property on behalf of the seller and procured the buyer, CMC VS, LLC.
Located at 503-533 SW 12th Ave., Village Shoppes totals 26,648 square feet of rentable space across two parcels on 40,200 square feet of land. The site includes 33 retail bays, 30 parking spaces and more than 325 feet of frontage on 12th Avenue. The property is zoned T5-O, allowing for future development of up to eight stories.
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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.
