Convenience Store
For Sale
$2,500,000
321 Opa Locka Boulevard OPA LOCKA, Opa Locka, FL 33054
The property includes block construction, a paved surface, and city-street access.
Property Size6,390 SF
Lot Size0.50 Acres
Price / SF$389.11
Days on Market64
Property Features for 321 Opa Locka Boulevard OPA LOCKA
General Information
Standard status
Active
Size
6,390 SF
Lot size
0.50 Acres
Zoning
6600
Taxes and HOA fees
Annual Taxes
$25,794
Amenities
1
true
21600
0.5
false
Paved
Block
City Street
6390
Building Details
Building Size
6,390 SF
Year Built
1953
Buildings
1
Stories
1
Listed By:
James Fletcher
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 6
Changed: Sep 6
Last Checked: Sep 6 at 4:17AM
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 James Fletcher
Investment Insights
Based on property information with market context.
This convenience-store property at 321 Opa Locka Boulevard includes a block-built commercial structure on a 0.5-acre site. The improvements date to 1953, and the property is served by a city street with a paved surface.
Zoning is identified as 6600. The building and lot are positioned for continued commercial use, subject to buyer verification and due diligence.
Zoning is identified as 6600. The building and lot are positioned for continued commercial use, subject to buyer verification and due diligence.
Key Highlights
- Convenience‑store property at 321 Opa Locka Boulevard, Opa Locka, FL 33054
- 0.5‑acre lot
- Block construction
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
$209,620
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
8.38%
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%
$4,192,400
$4.2M
Cap Rate 7%
$2,994,571
$3.0M
Cap Rate 9%
$2,329,111
$2.3M
Market Conditions
NOI Build-Up for 6,425 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
$333.8K $51.96/SF
− Vacancy
−$34.4K −$5.35/SF
EGI
$299.5K $46.61/SF
− OpEx
−$89.8K −$13.98/SF
NOI
$209.6K $32.63/SF
Area
Miami, FL
Vacancy
10.30%
Lease Rate
$51.96 /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%
$4,192,400
Cap Rate 7%
$2,994,571
Cap Rate 9%
$2,329,111
Alternative Uses
Best Use
Specialty Retail
$4.34M
$3.79M – $5.06M
NOI $303,584 @ 7.0% cap · market cap 12.14%
Second Best
Retail
$2.99M
$2.62M – $3.49M
NOI $209,620 @ 7.0% cap · market cap 8.38%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
Under-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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Presidente Supermarket #5 — 450 NE 125th St, North Miami, FL 33161
- New Way Foods — 12955 NW 7th Ave, North Miami, FL 33168
- Food Mart — Golden Glades, FL 33168
- Papis Supermarket — 13700 NW 7th Ave, Miami, FL 33168
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - The property includes block construction, a paved surface, and city-street access.
Where is this grocery and convenience store located?
The property is located at 321 Opa Locka Boulevard OPA LOCKA Opa Locka, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Convenience‑store property at 321 Opa Locka Boulevard, Opa Locka, FL 33054; 0.5‑acre lot; Block construction
