8-Unit Apartment
For Sale
$1,600,000
2070 Ali Baba Avenue, Opa Locka, FL 33054
The property offers a mix of two-bedroom and one-bedroom residences.
Property Size5,606 SF
Price / SF$285.41
Days on Market936
Property Features for 2070 Ali Baba Avenue
General Information
Standard status
Active
Size
5,606 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Units
Unit Mix
6 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$21,900
Building Details
Year Built
1960
Listing Agency:
Fausto Commercial Realty Consultants Inc
(786) 748-7373
Listed By:
Carlos Miranda · License #3129999
(786) 748-7373
Source:
Compass
Added: Feb 7, 2024
Changed: Aug 29
Last Checked: Aug 31 at 12:46AM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This apartment property contains eight residential units within a 5606-square-foot building constructed in 1960. The unit mix includes six two-bedroom, one-bathroom residences and two one-bedroom, one-bathroom residences, providing a defined combination of layouts within the same multifamily asset.
The property is located at 2070 Ali Baba Avenue in Opa-Locka, Florida 33054. Its residential configuration and documented unit mix provide a clear basis for evaluating the building as an apartment investment property. The available information identifies the asset as an apartment building offered for sale.
The property is located at 2070 Ali Baba Avenue in Opa-Locka, Florida 33054. Its residential configuration and documented unit mix provide a clear basis for evaluating the building as an apartment investment property. The available information identifies the asset as an apartment building offered for sale.
Key Highlights
- Eight‑unit apartment building
- Unit mix includes six two‑bedroom, one‑bathroom units and two one‑bedroom, one‑bathroom units
- 5606 SF building
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
$103,562
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
6.47%
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%
$2,071,240
$2.1M
Cap Rate 7%
$1,479,457
$1.5M
Cap Rate 9%
$1,150,689
$1.2M
Market Conditions
NOI Build-Up for 5,606 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
$201.8K $36.00/SF
− Vacancy
−$13.5K −$2.41/SF
EGI
$188.3K $33.59/SF
− OpEx
−$84.7K −$15.11/SF
NOI
$103.6K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,071,240
Cap Rate 7%
$1,479,457
Cap Rate 9%
$1,150,689
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.29M – $1.73M
NOI $103,562 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.78M
$3.31M – $4.41M
NOI $264,886 @ 7.0% cap · market cap 16.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
803
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?
Apartment building - The property offers a mix of two-bedroom and one-bedroom residences.
Where is this apartment building located?
The property is located at 2070 Ali Baba Avenue Opa Locka, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Eight‑unit apartment building; Unit mix includes six two‑bedroom, one‑bathroom units and two one‑bedroom, one‑bathroom units; 5606 SF building
