Miami self storage cap rates
Miami-Dade County · Updated September 2026
Current range
5.50% – 6.50%
Storage buyers look closely at new supply nearby.
Typical expenses
38%
of collected income, paid by the owner
What moves a self storage property within the range
- Occupancy and street rates against competitors.
- Supply within three miles.
- Operator. Institutional management lowers the cap rate.
- Location and age. Core neighborhoods trade about 0.25% tighter, outer markets about 0.50% wider, and buildings from before 1980 about 0.25% wider.
What a quarter point is worth
Take a self storage property with $500,000 of net operating income. At today’s range, every 0.25% change in cap rate moves its value by about $333,333.
| Cap rate | Value at $500,000 NOI |
|---|---|
| 5.25% | $9,523,810 |
| 5.50% | $9,090,909 |
| 6.00% | $8,333,333 |
| 6.50% | $7,692,308 |
| 6.75% | $7,407,407 |
Questions
What is a good cap rate for self storage in Miami?
Stabilized self storage properties in Miami-Dade are trading at 5.50% to 6.50%. A lower cap rate means a higher price for the same income. Whether a given cap rate is good depends on whether you are buying or selling.
How do I calculate the value of a self storage property?
Divide the net operating income by the cap rate. A property netting $500,000 a year at a 6.00% cap rate is worth about $8,333,333.
What expenses come out of net operating income?
Property taxes, insurance, repairs, management, utilities the owner pays and reserves. Not the mortgage. For self storage, owner-paid expenses typically run about 38% of collected income.
Other property types: Multifamily (10+ units) · Small multifamily (2–9 units) · Retail / strip center · Single-tenant net lease · Office · Medical office · Industrial / warehouse · Mixed use · Hotel / motel · Auto service / gas. Land values by neighborhood: see the table.
What is your self storage property worth?
Enter your address and we pull the county record. Add your rent and expenses and you will see your cap rate and value range against today's self storage market. It is free.
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