GULFPORT, Fla. August 19, 2020 – 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 5601 31st Avenue South, a 6-unit apartment property located in Gulfport, Fla., according to Chris Travis, regional manager of the firm’s Tampa office. The asset sold for $820,000.
The buyer, a private investor, was secured and represented by Shawn Rupp, Jay Ayres, Casey Babb, CCIM and Luis Baez, CCIM, investment specialists in Marcus & Millichap’s Tampa office.
“Gulfport is a very unique submarket with one of the strongest occupancy rates in the Tampa-St. Petersburg metropolitan area. The location is top-tier in Tampa Bay and is what attracted the buyer to the property,” said Jay Ayres.
5601 31st Avenue South, built in 1972, is located in Gulfport, Fla. The corner property features New Orleans-style apartments, resident parking, on-site laundry utilities, and is situated only a short walk from the beach.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing 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 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap 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.