Opa-locka Investment Duplex For
For Sale
$625,000
Pending
2911 NW 135th Street, Opa Locka, FL 33054
Well-kept duplex with long-term tenants, instant income, great location.
Property Size2,225 SF
Days on Market513
Property Features for 2911 NW 135th Street
General Information
Standard status
Pending
Size
2,225 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,515
Building Details
Year Built
2004
Listing Agency:
Paragon Properties Group LLC
(954) 252-8186
Listed By:
Darrell L Gonzales · License #3217423
(954) 732-6154
Source:
Exitrealty
Added: Apr 10, 2025
Changed: Sep 1
Last Checked: Sep 2 at 6:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Paragon Properties Group LLC
Investment Insights
Based on property information with market context.
This well-maintained duplex in Opa-locka features two units, each with 3 bedrooms and 2 bathrooms, offering an immediate income opportunity with existing long-term tenants. Each unit includes a combined family room and dining room area, tile flooring, and a spacious kitchen equipped with granite countertops, a refrigerator, and a stove. Laundry areas provide washer and dryer hookups. The property has separate electric and water meters for each unit, along with dedicated parking spots. New AC units have been installed. A large, fenced yard enhances privacy for the residents. The location offers convenient access to highways, colleges, and major shopping areas, suggesting potential for rental income growth.
Key Highlights
- Investment duplex with two long‑term tenants providing instant rental income.
- Two units, each with 3 bedrooms and 2 bathrooms.
- Features include family room/dining room combination, tile floors, and spacious kitchens with granite countertops.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,624
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$892,480
$892.5K
Cap Rate 7%
$637,486
$637.5K
Cap Rate 9%
$495,822
$495.8K
Market Conditions
NOI Build-Up for 2,225 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$68.1K $30.60/SF
− Vacancy
−$4.3K −$1.95/SF
EGI
$63.7K $28.65/SF
− OpEx
−$19.1K −$8.60/SF
NOI
$44.6K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$892,480
Cap Rate 7%
$637,486
Cap Rate 9%
$495,822
Alternative Uses
Best Use
Multifamily LT 5
$637.5K
$557.8K – $743.7K
NOI $44,624 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$587.2K
$513.8K – $685.1K
NOI $41,103 @ 7.0% cap · market cap 6.58%
Theoretical Best
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $105,132 @ 7.0% cap · market cap 16.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 33054, FL
30,352
Population
10,263
Households
3
Avg Household Size
37
Median Age
10%
College-Educated
75%
High-School Grad
8.4 sq mi
ZIP Area
3,613
Density / Sq Mi
$42,779
Median Household Income
$31,147
Median Earnings
$1,346
Median Rent
$291,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-kept duplex with long-term tenants, instant income, great location.
Where is this duplex located?
The property is located at 2911 NW 135th Street Opa Locka, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Investment duplex with two long‑term tenants providing instant rental income.; Two units, each with **3 bedrooms and 2 bathrooms**.; Features include family room/dining room combination, tile floors, and **spacious kitchens with granite countertops**.
