Uniquely Positioned South Beach Class A Self-Storage Opportunity- Miami Beach, FL
633 Alton Road, Miami Beach, FL 33139

Price
Market Bid
NRSF
20,347
Miami Beach, FL
Core Property
Call For Offers
Trophy, infill location seconds from Fisher and Star Islands
Property is perfectly situated in Miami Beach’s South Beach neighborhood, one of the nation’s fastest growing and affluent neighborhoods
Minimal existing and future supply in this trade area due to high barriers of entry
Achieved rents over $7 per occupied square foot, new tenants continue to push higher
Currently undergoing a unit optimization to maximize earning potential
Prior to the reconfiguration, this facility boasted physical occupancy in the high 90’s
Multifamily rental rates in South Beach are 2.5x to 3.0x rental rates in the popular Brickell neighborhood

The Self-Storage Group of Cushman & Wakefield has been exclusively retained to market the sale of this once-in-a-lifetime Miami Beach, FL Self-Storage Opportunity.

The self-storage facility at 633 Alton Road is perfectly located in Flamingo/Lummus, an urban South Beach neighborhood minutes from South Pointe and surrounding destination beaches. It is a world-famous location, known for vibrant condominium residences, world-class hotels, transformative art galleries, and unrivaled nightlife. This asset is nearly adjacent to the announced Five Park Miami Beach Residences. Miami Beach is well known worldwide as a playground for the rich and famous. This facility, with its mix of luxury wine storage, art deco façade, and location, not surprisingly, has some of the highest rental rates in the world.

Built in 2017, this facility includes 20,347 net rentable square feet across 537 climate-controlled units and 135 wine storage units. Tenants benefit from an art deco design, 24-hour security surveillance, covered loading dock, and plenty of customer parking.

This South Beach asset faces very little competition with only 3 facilities and approximately 60,000 net rentable square feet within a 3-mile radius. It is one of the highest barrier-to-entry markets in the United States and a relocation target for a multitude of corporations, tech giants, investment companies, and high net-worth individuals. With tenants being signed up at achieved rents of $7.19 per occupied square foot, this facility
is a trophy asset that should continue to generate unparalleled cash flow for the foreseeable future.




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