Marcus & Millichap Arranges the Sale of a 13,827-SF Retail Property Located in Placerville, California

PLACERVILLE, Calif. July 8, 2024 - 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 414-434 Main Street, a 13,827-square-foot retail property located in Placerville, California. The asset sold for $1,733,000.

"The buyer was local to the property and was in a 1031 exchange. Their down-leg was a residential rental property located in the Bay Area, " shared Edward J. Nelson, investment specialist in Marcus & Millichap's Sacramento office. "The buyer plans to make some significant capital improvements to the property in order to eventually increase rents over time." Nelson, Wyatt Figueroa and William D. Graves Jr., investment specialists in the firm's Sacramento office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was procured by Nelson.

The property is located at 414-434 Main Street in Placerville, California. Constructed in the 1920's, the original use was a movie theatre that had been converted into a five ground-floor retail unit property with three top-floor residential units.

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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, 2023, the company had 1,783 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.