The Cushman & Wakefield Self Storage Advisory Group has been exclusively retained to offer for sale Space Shop Self Storage in Miami, FL.

This offering presents a rare opportunity to acquire a best-in-class, institutional-quality self storage project in the highly sought-after Miami, FL market. The property, which delivered in July 2022, totals 86,413 rentable square feet across 887 climate-controlled units and 2 drive-up units. The five-story project benefits from strong demographic fundamentals, including a population of over 160,000 within a 3-mile radius and a median household income of $62,160.

As of May 2025, the facility was 86% occupied with in-place rents of $27.35, representing a 27.8% increase year-over-year. Over the same period, concessions declined by 45.2% and bad debt dropped by 19.9%, signaling a maturing rent roll and improving tenant quality. Meanwhile, asking rents in the trade area rose 13.5%, currently averaging $33.50, with stabilized comps in the metro achieving rates near $36.00. This delta presents a clear path for continued revenue growth. The combination of high barriers to entry, very high population density, and below-market rents offers potential investors an unmatched opportunity in a core Miami location.

The store is located in the City of North Miami, part of the vibrant and densely populated Miami–Fort Lauderdale–West Palm Beach MSA, home to over 6.1 million residents. North Miami is a dynamic and diverse urban hub within Miami-Dade County, strategically situated near key transportation arteries—including Interstate 95 and U.S. Route 1—and the property is positioned along the causeway to and from Bal Harbour, offering seamless connectivity to the greater Miami metropolitan area.

Since 2020, the population within the 3-mile trade area has grown by approximately 9.7%, with projections indicating an additional 9.1% growth by 2030. This growth is being fueled by a wave of new residential development across North Miami and surrounding neighborhoods. Within a 3-mile radius, thousands of new residential units have been delivered or are under construction, including large-scale mixed-use and multifamily projects in nearby North Miami Beach and North Bay Village. These developments are transforming the area into a denser, more walkable, and increasingly desirable residential hub.