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    1985 152Nd St Opa-locka, FL 33054
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    1985 152Nd St Opa-locka, FL 33054

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    Current Use by Public Records

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    Property Details for 1985 152Nd St

    Property type
    Specialty properties

    Description

    This exceptional $150,000 special purpose property, located at 1985 NW 152nd St, Miami Gardens, FL 33054, presents a unique opportunity for residential development. Situated in Miami-Dade County, this large vacant lot boasts approved plans for a single-family home, simplifying the construction process and saving valuable time and resources. The property's convenient location in Opa-locka offers easy access to local amenities and transportation networks. The lot's size provides ample space for a comfortable and spacious home, allowing for creative design and landscaping options. A pre-existing septic tank is already in place, further streamlining the building process and reducing initial costs. This is an ideal opportunity for builders, investors, or individuals seeking to build their dream home in a desirable Florida location. The property is ready for immediate development, offering a streamlined path to homeownership or a profitable investment. Coordinates are 25.913036 latitude and -80.233768 longitude. Don't miss this chance to acquire a prime piece of land in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Opa-locka
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2338
    Latitude
    25.913

    Comparable in this City

    • Value Estimation by Request
      1,200 SF

      14690 27th Ave

      CHARITABLE ORGANIZATION • 1,200 SF
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    • Value Estimation by Request
      8,471 SF

      13185 45th Ave

      CHARITABLE ORGANIZATION • 8,471 SF
      13185 45th Ave, Opa Locka, FL 33054-4305
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    • Value Estimation by Request
      3,385 SF

      500 Fisherman St

      CHARITABLE ORGANIZATION • 3,385 SF
      500 Fisherman St, Opa Locka, FL 33054-3808
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    • Value Estimation by Request
      9,412 SF

      15600 42nd Ave

      CHARITABLE ORGANIZATION • 9,412 SF
      15600 42nd Ave, Miami Gardens, FL 33054-6100
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    • Value Estimation by Request
      1,945 SF

      1881 Ali Baba Ave

      CHARITABLE ORGANIZATION • 1,945 SF
      1881 Ali Baba Ave, Opa Locka, FL 33054-2835
      View Details
    • Value Estimation
      $510,000
      11,331 SF

      15100 27th Ave

      CHARITABLE ORGANIZATION • 11,331 SF
      15100 27th Ave, Miami Gardens, FL 33054-2642
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Opa-locka Commercial Property For Rent

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      Opa-locka Retail Space Available

      8500 SF retail space with flexible usage options.
      16525 NW 27Th Ave, Opa Locka, FL 33054
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      22,719 SF

      Warehouse Space Near Airport

      Warehouse space with loading dock, near Opa-Locka Airport.
      13145 NW 45Th Ave, Opa Locka, FL 33054
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    • $7,200 /Mo
      400 SF

      Opa Locka Free-Standing Building

      400 sq.ft. free-standing building with fenced storage yard.
      14041 NW 20Th Ave, Opa Locka, FL 33054
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      Opa Locka Industrial Land

      Industrial land available for lease in Opa Locka, Florida.
      3100 NW 131St St, Opa Locka, FL 33054
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    • $8,600 /Mo
      4,700 SF

      Free-Standing Warehouse with Storage Yard

      4,700 sq ft warehouse with offices and storage yard.
      14040 Nw 19Th Ave, Opa Locka, FL 33054
      View Details
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    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.

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