MIAMI—The Doral commercial real estate market is heating up, with office buildings leasing up, developers moving in with mixed-use projects, and industrial space seeing an uptick. The market is so hot, in fact, that even niche commercial real estate property types are turning heads.
Doral Self Storage, 58,177-square foot self-storage facility in Miami, FL, just sold for $4.6 million. Michael A. Mele, a senior vice president investments in Marcus & Millichap‘s Tampa office, represented both parties in the transaction.
“This was a very smooth deal and beneficial for both the buyer and the seller,” says Mele. “It also demonstrates the continued consolidation of self-storage in the Dade County market.”
Doral Self Storage is located at 5055 Northwest 77th Avenue. The self-storage facility was built in 1986 and has 611 units, spanning 57,240 net rentable square feet.
Units range in size from 15 to 300 square feet and there are 13 rentable parking spaces. Doral Self Storage features an on-site rental office and a second-story apartment that allows for easy and efficient on-site management.