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Extra Space Storage (Managed)
15699 West Dixie Hwy, North Miami Beach, Florida 33162
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Property Info
Price: $
Units: 1,079
Year Built: April 2024
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Download Marketing Package
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Broker Contact Info
George Kondracke
614.360.9808
George.Kondracke@marcusmillichap.com
Opportunity
The Market
Investment
Map
This is a rare opportunity to acquire a newly built, institutional-quality self-storage asset in one of South Florida’s most densely populated and supply-constrained markets. The property is over 85% physically occupied less than a year after opening, proving strong market demand and operator performance. With current economic occupancy still ramping, there is significant upside in capturing stabilized income over the next 12–24 months. Located on a high-visibility corridor just north of Miami, this facility is positioned to benefit from long-term demographic growth, minimal near-term competition, and rising replacement costs.
Buyers have the opportunity to acquire a high-performing, Class-A asset with proven demand and significant near-term upside. As economic occupancy continues to catch up to physical, there is a clear path to strong NOI growth, attractive long-term cash flow, and meaningful value creation in a market with high barriers to entry and increasing replacement costs.
POPULATION
In 2024, the population within a five-mile radius of the subject property is 433,173. The population has changed by 7.84 percent since 2010. It is estimated that the population in this area will be 439,388 five years from now, which represents a change of 1.4 percent from the current year. The current population is 51.7 percent male and 48.3 percent female. The median age of the population in your area is 41.0, compared with the U.S. average, which is 39.0. The population density in your area is 5,524 people per square mile.
HOUSEHOLDS
There are currently 165,587 households within a five-mile radius of the subject property. The number of households has changed by 8.42 percent since 2010. It is estimated that the number of households in the area will be 168,096 five years from now, which represents a change of 1.5 percent from the current year. The average household size is 2.6 people.
INCOME
In 2024, the median household income within the five-mile area is $71,660, compared with the U.S. average of $76,141. The median household income in this area has changed by 74.67 percent since 2010. It is estimated that the median household income will be $81,760 five years from now, which represents a change of 14.1 percent from the current year.
The current year per capita income in this area is $34,707, compared with the U.S. average, which is $40,471. The current year’s average household income is $90,562, compared with the U.S. average, which is $101,307.
EMPLOYMENT
In 2024, 216,862 people within a five-mile radius of the subject property were employed. The 2010 Census revealed that 56.3 percent of employees in this area work in white-collar occupations, while 17.9 percent are in blue-collar occupations. In 2024, unemployment in this area was 3.0 percent. In 2010, the average time traveled to work was 32.00 minutes.
HOUSING
The median housing value within a five-mile radius was $460,539 in 2024, compared with the U.S. median of $321,016. In 2010, there were 88,284.00 owner-occupied housing units and 64,438.00 renter-occupied housing units.
EDUCATION
As of 2024, educational attainment within the five-mile area showed some key differences compared to national averages. A significant 32.9 percent of residents had earned a graduate degree compared with the national average of only 13.5 percent, and 9.8 percent completed a bachelor’s degree, compared with the national average of 21.1 percent.
The percentage of residents with an associate degree was higher than the national average, with 12.1 percent vs. 8.8 percent nationally.
The area had fewer high-school graduates, with 2.7 percent compared to 26.2 percent nationally, but a higher percentage of residents completed some college, at 31.2 percent in the area versus 19.7 percent across the country.
• North Miami Beach Class-A Self Storage Offering with Significant Upside
• Newly Built – Opened in April 2024 (86% Physical Occupancy Achieved in the First Year of Operations)
• Extra Space Storage Managed – The Nation’s Premier Third-Party Storage Manager
• Located About 10 Miles North of Downtown Miami and 15 Miles South of Downtown Fort Lauderdale
• 109,615 Net Rentable Square Feet
• 1,048 Climate Controlled Units & 31 Non-Climate Controlled Units
• Outpacing Extra Space Storage’s 16 Month Revenue Projections
• Featured Amenities: Covered Loading/Unloading Bay, Multiple Entrance Gates, Advanced Security Features with Keycard Access Limited to Each Tenant’s Designated Floor
• Nearby Development: North Towne Apartments Approved for Five 12-Story Buildings, Offering a Total of 1,296 Residential Units Across Dixie Highway
• High-Visibility Location: Prominent Frontage on US 1/Biscayne Boulevard Which Sees About 67,500 Vehicles per Day
• Easily Accessible From State Road 826 (Palmetto Expressway), Which Sees an Additional 64,500 Vehicles per Day
• Extremely Dense Surrounding Population: 433,173 People Living Within a Five-Mile Radius & 193,571 People Living Within a Three-Mile Radius