Prime Location: Situated in a high-barrier-to-entry Miami submarket, the Property offers excellent visibility and accessibility via major roads, including the Florida Turnpike and Ronald Reagan Blvd.
Significant Value-Add Potential: The Property presents substantial opportunities for conversion and expansion, with plans to transform 24,159 SF of executive office suites and 23,685 SF of warehouse space into an additional 58,500 SF of self-storage units, including a mezzanine floor to maximize revenue.
Existing Income: The Property provides immediate income from the current leasing of self-storage, executive office suites, and warehouse space which gives investors income while executing on the conversion plans.
Flexible Leasing Terms: Executive office suites are leased on a short-term basis, and warehouse leases move-out clauses, allowing for quick and efficient execution of conversion plans upon approval.
Favorable Market Dynamics: The trade area features a balanced mix of residential and commercial zones, with less than 5 square feet of self-storage per person, indicating strong demand and potential for long-term rent growth.
The Cushman & Wakefield Self Storage Advisory Group has successfully facilitated the sale of Miramar Self Storage.
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