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 Canal Inn, a boutique inn located in Washington, D.C., according to Bryn D. Merrey, division manager of the firm’s Mid-Atlantic and Southeast offices. The 3,350-square-foot asset sold for $2,250,000, which represents $672 per square foot.

Marty Zupancic, vice president investments, Peggy Brooks Smith, associate vice president investments, and Christian Barreiro, investment specialist, all in Marcus & Millichap’s Washington, D.C. office, had the exclusive listing to market the property on behalf of the seller, an individual trust.

Canal Inn is located at 1061 31st St. NW in Washington, D.C., on Georgetown’s C&O Canal, where it has stood since 1831 and through renovations in 2012. After completion of the renovations, the inn currently has 10 rooms, a third story loft, and 11 and a half bathrooms. According to Barreiro, the property will be kept as an inn or bed and breakfast in the immediate future.

After twenty-five tours and five offers on the property, the deal closed at its full list price.

About Marcus & Millichap (NYSE: MMI)

With over 1,600 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 over 8,700 transactions in 2015 with a value of approximately $37.8 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.