Flex Space with Loading
For Sale
$270,000
Pending
13373 NW 47th Ave Unit 3, Opa Locka, FL 33054
Industrial space with a ground-level office, restroom, and clear-span working area in a managed commercial complex.
Property Size1,753 SF
Days on Market2197
Property Features for 13373 NW 47th Ave Unit 3
General Information
Standard status
Pending
Size
1,753 SF
Property subtype
General Commercial
Zoning
1-3
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$4,888
Amenities
3
Building Details
Year Built
2006
Listing Agency:
BHHS EWM Realty
(305) 318-8200
Listed By:
Brian Smith · License #3401552
(305) 318-8200
Source:
Xome
Added: Aug 26, 2020
Changed: Aug 29
Last Checked: Aug 29 at 7:12PM
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 BHHS EWM Realty
Investment Insights
Based on property information with market context.
This 1,753-square-foot flex space at Airport South Commerce Center was built in 2006 and includes a street-level loading door, an 18-foot clear ceiling, a ground office, and a bathroom. The unit is suited to commercial users seeking a combination of workspace, storage, and direct loading access. The property carries 1-3 zoning.
Located at 13373 NW 47th Ave Unit 3 in Opa Locka, the space is part of a managed commercial complex. A tenant was reported in place through April 2021, with possession terms described as negotiable in the property information.
Located at 13373 NW 47th Ave Unit 3 in Opa Locka, the space is part of a managed commercial complex. A tenant was reported in place through April 2021, with possession terms described as negotiable in the property information.
Key Highlights
- 1,753‑square‑foot flex space built in 2006
- Street‑level loading door for direct access
- 18' clear ceiling height
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
$23,551
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
8.72%
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%
$471,020
$471.0K
Cap Rate 7%
$336,443
$336.4K
Cap Rate 9%
$261,678
$261.7K
Market Conditions
NOI Build-Up for 1,753 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
$35.3K $20.16/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$33.6K $19.19/SF
− OpEx
−$10.1K −$5.76/SF
NOI
$23.6K $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%
$471,020
Cap Rate 7%
$336,443
Cap Rate 9%
$261,678
Alternative Uses
Best Use
Warehouse
$408.5K
$357.5K – $476.6K
NOI $28,598 @ 7.0% cap · market cap 10.59%
Second Best
Flex RnD
$367.2K
$321.3K – $428.4K
NOI $25,706 @ 7.0% cap · market cap 9.52%
Theoretical Best
Specialty Retail
$1.18M
$1.04M – $1.38M
NOI $82,830 @ 7.0% cap · market cap 30.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
Well-served
Demand for This Use
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?
Flex space - Industrial space with a ground-level office, restroom, and clear-span working area in a managed commercial complex.
Where is this flex space located?
The property is located at 13373 NW 47th Ave Unit 3 Opa Locka, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: 1,753‑square‑foot flex space built in 2006; Street‑level loading door for direct access; 18' clear ceiling height
