Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Opa Locka, FL 33054

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $575,000

    Land in Mixed-Use Overlay Zone with development potential.

    Lot size:
    0.20 Acres

    Property Features for

    General Information

    Lot size
    0.20 Acres

    We can help!

    Listing Contact
    Alicia Hayes
    Source: Elliman

    Listing Agent: Alicia Hayes

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Opa-locka Land for Development

    This site is located in a Mixed-Use Overlay Zone and presents an opportunity for builders, investors, and developers. It allows for a density increase of 100 units per acre. Other development projects are underway in the area. The previous owner had plans for a 17-unit, 4-story building, and proposed schematics are available.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Opa Locka
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2583
    Latitude
    25.9069

    Nearby Similar for Sale

    • $800,000
      2,815 SF

      Opa-Locka Fourplex Investment Opportunity

      Value-add fourplex with single-family home in Opa-Locka, Florida.
      1940 Ali Baba Ave, Opa Locka, FL 33054
      View Details
    • $800,000

      Opa-Locka Multifamily Investment Opportunity

      Multifamily property in Opa-Locka, great potential to increase income.
      1940 Ali Baba Ave, Opa Locka, FL 33054
      View Details
    • $9,750,000

      Opa-Locka Multi-Tenant Industrial Warehouse

      46,986 SF multi-tenant industrial warehouse on 1.38 AC.
      2275 NW 150Th St, Opa Locka, FL 33054
      View Details
    • $725,000
      3,490 SF

      Opa-Locka Fourplex Investment Opportunity

      Value-add fourplex in Opa-Locka with rental upside.
      2013 Washington Ave, Opa Locka, FL 33054
      View Details
    • $725,000

      Opa-Locka Multifamily Investment Opportunity

      Multifamily property in Opa-Locka with value-add potential.
      2013 Washington Ave, Opa Locka, FL 33054
      View Details
    • $725,000
      Pending

      Opa-Locka Retail Storefront Opportunity

      High-visibility retail property in Opa-Locka's revitalization area.
      Opa Locka, FL 33054
      View Details
    • $399,000
      Pending

      Opa-Locka Industrial Warehouse Opportunity

      Industrial warehouse in Opa-Locka's prime industrial zone, ready for occupancy.
      13061 NW 42Nd Ave, Opa Locka, FL 33054
      View Details
    • $399,000
      Pending

      Opa-Locka Industrial Warehouse Opportunity

      Industrial warehouses in Opa-Locka's prime industrial zone, ready for occupancy.
      13063 NW 42Nd Ave, Opa Locka, FL 33054
      View Details
    • $99,000

      Turnkey Restaurant with Rental Income

      Profitable take-out restaurant with additional income streams in Opa-Locka.
      Opa Locka, FL 33054
      View Details
    • $399,000
      Pending

      Opa-Locka Industrial Warehouse Opportunity

      Industrial warehouses in Opa-Locka's prime industrial zone, ready for occupancy.
      13059 NW 42Nd Ave, Opa Locka, FL 33054
      View Details
    • $520,000

      Opa-Locka Automotive/Retail Opportunity

      Versatile commercial unit suitable for auto repair or retail.
      13485 NW 47Th Ave, Opa Locka, FL 33054
      View Details
    • $145,000

      Opa-Locka Auto Repair Business

      Auto repair business opportunity with equipment in Opa-Locka, Florida.
      2620 SW Ali Baba Ave, Opa Locka, FL 33054
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land in Mixed-Use Overlay Zone with development potential.
    Where is this commercial land located?
    The property is located at Opa Locka, FL.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: - Located in a Mixed-Use Overlay Zone, allowing for high-density development.; - Potential for **100 units per acre**.; - Opportunity for builders, investors, and developers.
    (305) 652-9343
    Request Owner's contact information
    Opa Locka, FL 33054
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Opa Locka, FL 33054
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Opa Locka, FL 33054
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Alicia Hayes
    (305) 652-9343
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.