Opa-locka Material Recovery
For Sale
Contact for pricing
2330 NW 149th St, Opa Locka, FL 33054
164,311 SF facility on 5.07 acres for sale.
Property Size164,311 SF
Lot Size5.07 Acres
Price / SF$180
Days on Market1022
Property Features for 2330 NW 149th St
General Information
Standard status
Active
Size
164,311 SF
Lot size
5.07 Acres
Property subtype
Industrial
Zoning
IU-2
Lease Type
Gross
Listing Agency:
Americas Commercial Real Estate
Listed By:
Alexander Bernaldo, SIOR · License #FL BK632355
(786) 277-4416
Source:
Crexi
Added: Nov 17, 2023
Changed: Aug 16
Last Checked: Sep 4 at 7:08AM
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 Americas Commercial Real Estate
Investment Insights
Based on property information with market context.
The property operates as a material recovery facility for cardboard, paper, and plastic. It is strategically located between Miami Dade and Broward Counties and sits on 5.07 acres. The facility includes three interconnected buildings totaling 164,311 square feet under a roof with ceiling heights between 31 and 42 feet. The property features 20 overhead doors with sufficient clearance for waste collection trucks, five loading docks for outbound shipments, and two certified scales. The City of Opa-locka began an extensive water, sewer, drainage, and roadway infrastructure improvement project in February 2023.
Key Highlights
- Strategically located between Miami Dade and Broward Counties.
- 164,311 SF of interconnected buildings under one roof.
- Operates as a Material Recovery Facility for cardboard, paper, and plastic.
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
$2,207,457
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
7.46%
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%
$44,149,140
$44.1M
Cap Rate 7%
$31,535,100
$31.5M
Cap Rate 9%
$24,527,300
$24.5M
Market Conditions
NOI Build-Up for 164,311 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
$3.31M $20.16/SF
− Vacancy
−$159.0K −$0.97/SF
EGI
$3.15M $19.19/SF
− OpEx
−$946.1K −$5.76/SF
NOI
$2.21M $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%
$44,149,140
Cap Rate 7%
$31,535,100
Cap Rate 9%
$24,527,300
Alternative Uses
Best Use
Industrial
$31.54M
$27.59M – $36.79M
NOI $2,207,457 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$110.91M
$97.05M – $129.40M
NOI $7,763,769 @ 7.0% cap · market cap 26.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
924
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 - 164,311 SF facility on 5.07 acres for sale.
Where is this manufacturing property located?
The property is located at 2330 NW 149th St Opa Locka, FL.
What is the asking price?
The asking price for this property is $29,576,000.
What are key features of this property?
This property features: Strategically located between Miami Dade and Broward Counties.; 164,311 SF of interconnected buildings under one roof.; Operates as a Material Recovery Facility for cardboard, paper, and plastic.
