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    Property profile & analytics

    620 Opa Locka Blvd Opa-locka, FL 33054

    • Commercial real estate
    • 8,585 SF
    For Sale
    View listing
    $1,350,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4802736
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 620 Opa Locka Blvd

    Year built
    1949
    Property size
    8,585 SF
    Property type
    Commercial real estate

    Description

    This exceptional mixed-use property, located at 620 Opa Locka Blvd in Opa-locka, Florida, presents a compelling investment opportunity. The property, situated in the heart of Opa-locka's business district and zoned B-2 Commercial Liberal, encompasses a substantial 8,585 square feet. The site comprises three buildings and a courtyard, offering significant flexibility for a variety of commercial ventures. Originally used as a house of worship, the property's adaptable layout allows for diverse redevelopment possibilities. Built in 1949, the property benefits from a recently replaced roof (2023), minimizing immediate maintenance concerns. The asking price is $1,350,000. This prime location in Miami-Dade County, Florida (zip code 33054), offers excellent visibility and accessibility. The property's size and zoning provide ample room for creative development, making it an attractive prospect for discerning investors seeking a high-return opportunity in a thriving commercial area. Prospective buyers are encouraged to conduct their own due diligence.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Opa-locka
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2504713
    Latitude
    25.9006826

    Comparable in this City

    • $308,000

      Opa-Locka Mixed-Use Investment Opportunity

      Prime location, high traffic, diverse commercial zoning.
      1201 Opa Locka Blvd, Opa-locka, FL 33054
      View Details
    • $2,400,000
      8,253 SF

      Prime Miami Gardens Retail Space

      Vacant Convenience Store, High Visibility
      16525 27Th Ave, Miami Gardens, FL 33054
      View Details
    • $438,800

      Opa-Locka Flex Warehouse - $438,800

      Versatile Flex Space, Opa-Locka, FL
      13091 43Rd Ave, Opa-locka, FL 33054
      View Details
    • $2,400,000

      Warehouse Space Near Opa-locka Airport

      Well-maintained warehouse suitable for industrial uses, distribution, or manufacturing.
      15241 NW 33 Pl, Miami Gardens, FL 33054
      View Details
    • $4,650,000

      Opa-locka Multi-Bay Warehouse For Sale

      20,100 SF warehouse with 21,000 SF secured yard.
      2600 Ali Baba Ave, Opa Locka, FL 33054
      View Details
    • $60,000

      Established Juice Bar Opportunity

      Fully equipped juice bar ready for new owner.
      854 Ali Baba Ave, Opa Locka, FL 33054
      View Details

    Similar Nearby for Sale

    • $308,000

      Opa-Locka Mixed-Use Investment Opportunity

      Prime location, high traffic, diverse commercial zoning.
      1201 Opa Locka Blvd, Opa-locka, FL 33054
      View Details
    • $2,400,000
      8,253 SF

      Prime Miami Gardens Retail Space

      Vacant Convenience Store, High Visibility
      16525 27Th Ave, Miami Gardens, FL 33054
      View Details
    • $438,800

      Opa-Locka Flex Warehouse - $438,800

      Versatile Flex Space, Opa-Locka, FL
      13091 43Rd Ave, Opa-locka, FL 33054
      View Details
    • $2,400,000

      Warehouse Space Near Opa-locka Airport

      Well-maintained warehouse suitable for industrial uses, distribution, or manufacturing.
      15241 NW 33 Pl, Miami Gardens, FL 33054
      View Details
    • $4,650,000

      Opa-locka Multi-Bay Warehouse For Sale

      20,100 SF warehouse with 21,000 SF secured yard.
      2600 Ali Baba Ave, Opa Locka, FL 33054
      View Details
    • $60,000

      Established Juice Bar Opportunity

      Fully equipped juice bar ready for new owner.
      854 Ali Baba Ave, Opa Locka, FL 33054
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      5,000 SF

      Opa-Locka Retail Space For Lease

      Prime Opa-Locka Retail, 5,000 SF
      701 Opa Locka Blvd, Opa-Locka, FL 33054
      View Details
    • $31 SF/Yr
      1,323 SF

      Opa-locka Retail Space For Lease

      High-exposure corner unit, 1323 sq ft.
      2196 Ali Baba Ave, Opa-locka, FL 33054
      View Details
    • $216 SF/Yr
      8,000 SF

      Opalocka Warehouse: 8,000 SF

      Single-tenant industrial warehouse; ideal for various uses.
      14935 27Th Ave, Opa-locka, FL 33054
      View Details
    • $0.01 SF/Yr
      25,380 SF

      Opa Locka Warehouse: Prime Location

      8,000 SF Warehouse, Excellent Lease Terms
      14935 27Th Ave, Opa-locka, FL 33054
      View Details
    • Contact for pricing
      37,960 SF

      Opa Locka Industrial Space

      New industrial park in Miami's Central Dade submarket.
      12700 NW 42Nd Ave, Opa Locka, FL 33054
      View Details
    • $38 SF/Yr
      1,500 SF

      Retail Space in Miami Gardens

      Local shopping center with high traffic and excellent exposure.
      16650 NW 27Th Ave, Opa Locka, FL 33054
      View Details
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    620 Opa Locka Blvd
    Opa-locka, FL 33054
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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