Take advantage of the rare opportunity to invest in a recently constructed self-storage property located in the fast-growing Miami metro area. Altogether, the Miami metro is home to nearly 6.2 million residents, which is a 19.73% increase since the 2010 census.
Less than an hour north of Miami lies Aventura. Aventura is considered one of the best places to buy real estate in the Miami-Dade metro area, as it is a residential environment ideal for families that is close to beautiful beaches. The city is renowned for its sleek, high-rise condos and is home to the third-largest shopping mall in the nation.
The property listed for sale is located at 19301 W Dixie Hwy next to Bed, Bath & Beyond and across from the Aventura Mall. 198,018 residents live within a three-mile radius. In this affluent area, the median household income is $74,281 within a one-mile radius.
Built in 2019, the 81,977 square-foot facility hosts 1,051 units. Tenants benefit from modern conveniences like 24-hour building access and climate-controlled units to protect against South Florida heat. Personal belongings are protected by around-the-clock security surveillance. Physical occupancy is 83.1 / 80.2% while economic occupancy is at 58.5%.
As the densely populated city of Miami continues to expand, its surrounding suburbs are poised for continuous growth. This asset offers investors a significant opportunity to optimize revenue by increasing physical occupancies and raising in-place tenants to market.