Manufacturing Building with
For Sale
$6,500,000
Pending
2320 NW 147th St, Opa Locka, FL 33054
Manufacturing building built in 1967 with 40 parking spaces near Opa Locka Airport.
Property Size32,436 SF
Days on Market2646
Property Features for 2320 NW 147th St
General Information
Standard status
Pending
Size
32,436 SF
Property subtype
General Commercial
Amenities
3
40 Parking Spaces.
Building Details
Year Built
1967
Listing Agency:
Cornerstone Intl. Realty, LLC
(305) 428-2708
Listed By:
Hector Catano · License #0680965
(305) 428-2708
Source:
Xome
Added: May 10, 2019
Changed: Jul 30
Last Checked: Jul 30 at 10:27AM
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 Cornerstone Intl. Realty, LLC
Investment Insights
Based on property information with market context.
Manufacturing building totaling 32,436 SF and built in 1967. The property includes 3 guest facilities and on-site parking for 40 vehicles, supporting both production and day-to-day operations. The building is associated with two folio numbers: 08-2122-025-0280 and 08-2122-025-0290.
The site is located at 2320 NW 147th St in Opa Locka, FL, close to the OpaLocka Airport, which is currently undergoing major renovations. That proximity may be of interest for manufacturing and logistics-focused users seeking access to an actively improving airport environment.
The site is located at 2320 NW 147th St in Opa Locka, FL, close to the OpaLocka Airport, which is currently undergoing major renovations. That proximity may be of interest for manufacturing and logistics-focused users seeking access to an actively improving airport environment.
Key Highlights
- 32,436 SF manufacturing building
- Built in 1967
- 3 guest facilities
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
$435,765
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
6.70%
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%
$8,715,300
$8.7M
Cap Rate 7%
$6,225,214
$6.2M
Cap Rate 9%
$4,841,833
$4.8M
Market Conditions
NOI Build-Up for 32,436 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
$653.9K $20.16/SF
− Vacancy
−$31.4K −$0.97/SF
EGI
$622.5K $19.19/SF
− OpEx
−$186.8K −$5.76/SF
NOI
$435.8K $13.43/SF
Area
Miami, FL
Vacancy
4.80%
Lease Rate
$20.16 /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%
$8,715,300
Cap Rate 7%
$6,225,214
Cap Rate 9%
$4,841,833
Alternative Uses
Best Use
Industrial
$6.23M
$5.45M – $7.26M
NOI $435,765 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$21.89M
$19.16M – $25.54M
NOI $1,532,616 @ 7.0% cap · market cap 23.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
843
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Manufacturing building built in 1967 with 40 parking spaces near Opa Locka Airport.
Where is this manufacturing property located?
The property is located at 2320 NW 147th St Opa Locka, FL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 32,436 SF manufacturing building; Built in 1967; 3 guest facilities
