Two-Unit
1980 Lincoln Avenue Opa-Locka, Opa Locka, FL 33054
For Sale
$650,000
Separate electrical and water meters serve each residence.
Property Size1,440 SF
Price / SF$451.39
Days on Market142
Property Features for 1980 Lincoln Avenue Opa-Locka
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Elite Realty Partners, Inc.
Listed By:
Delvin A Thomas · License FL #3390566
Source:
Debuirerealty
Added: Jun 22
Changed: Nov 10
Last Checked: Nov 9 at 8:36PM
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 Elite Realty Partners, Inc.
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Investment Insights
Based on property information with market context.
This 1,440-square-foot duplex contains two residences, each with three bedrooms and one bathroom. The building dates to 1962 and sits on a corner lot. Separate electrical and water meters serve the two units.
Key Highlights
- Two residences, each with 3 bedrooms and 1 bathroom
- Separate electrical and water meters for each unit
- 1,440 square feet on a corner lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,880
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,600
$577.6K
Cap Rate 7%
$412,571
$412.6K
Cap Rate 9%
$320,889
$320.9K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$44.1K $30.60/SF
− Vacancy
−$2.8K −$1.95/SF
EGI
$41.3K $28.65/SF
− OpEx
−$12.4K −$8.60/SF
NOI
$28.9K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,600
Cap Rate 7%
$412,571
Cap Rate 9%
$320,889
Alternative Uses
Best Use
Multifamily LT 5
$412.6K
$361.0K – $481.3K
NOI $28,880 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$380.0K
$332.5K – $443.4K
NOI $26,602 @ 7.0% cap · market cap 4.09%
Theoretical Best
Specialty Retail
$972.0K
$850.5K – $1.13M
NOI $68,041 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
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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
$291,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Miami-Dade County, FL
Properties on Market for Duplexes in Miami-Dade County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate electrical and water meters serve each residence.
Where is this duplex located?
The property is located at 1980 Lincoln Avenue Opa-Locka Opa Locka, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 1 bathroom; Separate electrical and water meters for each unit; 1,440 square feet on a corner lot
