A self-storage facility in North Miami recently sold for $30.8 million. The property, located at 250 N.E. 135th St., spans 99,280 square feet and was developed by Abreu Development. SmartStop purchased the facility at a rate of $310 per square foot.
Completed in 2023 on a 1.44-acre site, the three-story building was originally planned by Abreu Development and received a construction loan of $13.35 million in 2022.
SmartStop currently operates over195 storage properties across the United States and Canada.
According to StorageCafe data, South Florida’s average monthly cost for a standard-sized (10×10) storage unit is only $153 – significantly lower than other major coastal cities in the US – with prices dropping by an average of9 .2% from last year’s rates.Between new deliveries from previous years (843,000 sq ft)and those added this past year(980 ,000 sq ft), there has been an increasein available self-storage space throughout South Florida.
