DUNEDIN, FLA., October 28, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Scotland Oaks, a 10-unit apartment building located in Dunedin, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $495,000.
James Vestal, associate, in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller. The buyer, a private investor, was secured and represented by James Vestal.
Scotland Oaks is located at 590 New York Avenue in Dunedin, Florida. Situated in Pinellas County, the most densely populated county within Florida, Dunedin is minutes from the nation’s top beaches and the property is within four miles of US Highway 19 providing quick access to St. Petersburg. Scotland Oaks consists of one, two-story building, which is comprised of six, one-bedroom/one-bathroom units, two, two-bedroom/one-and-a-half-bathroom units and two, two-bedroom/two-bathroom units. All units have central air conditioning and tile and/or wood flooring. The on-site amenities include a laundry room, dog walk area, ample parking and screened in porches.
“The Scotland Oaks transaction reflects the high demand in the burgeoning city of Dunedin, which continues to outpace surrounding submarkets in value and interest,” says Vestal.
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About Marcus & Millichap (NYSE: MMI)
With nearly 1,500 investment 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 over 7,600 transactions in 2014 with a value of approximately $33.1 billion. The company 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