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    13400 Alexandria Dr Opa Locka, FL 33054
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    Property profile & analytics

    13400 Alexandria Dr Opa Locka, FL 33054

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    • Office buildings
    • 1,733 SF
    • 0.74 lot acres
    For Sale
    $1,530,000
    View Listing →
    Opa-Locka Multifamily Development Opportunity For Sale
    $1,530,000
    0.74 Acres

    Opa-Locka Multifamily Development Opportunity

    32,200 sqft lot zoned for multifamily development.

    Opa Locka, FL 33054
    View Listing
    Property ID
    US18-8687801
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 13400 Alexandria Dr

    Year built
    1951
    Construction
    CONCRETE
    Lot size
    0.74 lot acres
    Property size
    1,733 SF
    Zone code
    4400:MULTI-FAMILY,3 STORY
    Property type
    Office buildings
    APN
    08-2128-007-0220
    APU
    821280070220

    Description

    Discover a remarkable development opportunity in Opa-Locka, Florida. This exceptional 32,200 square foot lot, located at 13400 Alexandria Drive, is zoned 4400/multifamily, presenting a unique chance to create a vibrant residential community. The property's zoning allows for the construction of over 20 residential units, catering to the growing demand for housing in this dynamic area. Its strategic location offers unparalleled convenience, with proximity to key economic drivers such as the Amazon Warehouse and Executive Airport, as well as thriving retail centers. This ensures future residents will enjoy easy access to essential amenities and services. The property's strong potential for return on investment is further enhanced by its location within a rapidly developing area of South Florida, experiencing significant ongoing investment and growth. An existing improvement on the site previously had utilities connected, offering a potential head start for development. This exceptional property is priced at $1,530,000 and represents a compelling investment opportunity for discerning developers seeking to capitalize on the burgeoning real estate market in Opa-Locka, Miami-Dade County, Florida, zip code 33054.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $445,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $885,000
      6.5%
      $815,000
      7%
      $760,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $559,000
      Market price range: $151k - $559k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $990,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Opa Locka
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2553
    Latitude
    25.8958
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $13,993
    $483,000
    $77,202
    $560,202
    -
    $483,000
    $77,202
    $560,202

    Comparable in this City

    • Value Estimation
      $3,805,000
      13,230 SF

      3900 167th St

      PROFESSIONAL BUILDING • 13,230 SF
      3900 167th St, Miami Gardens, FL 33054-6233
      View Details
    • Value Estimation
      $3,295,000
      13,248 SF

      432 Opa Locka Blvd

      OFFICE BUILDING (MULTI-STORY) • 13,248 SF
      432 Opa Locka Blvd, Opa Locka, FL 33054
      View Details
    • Value Estimation
      $3,190,000
      10,788 SF

      3950 167th St

      PROFESSIONAL BUILDING • 10,788 SF
      3950 167th St, Miami Gardens, FL 33054-6279
      View Details
    • Value Estimation by Request
      1,671 SF

      2010 Lincoln Ave

      OFFICE BUILDING • 1,671 SF
      2010 Lincoln Ave, Opa Locka, FL 33054-2855
      View Details
    • Value Estimation by Request
      1,226 SF

      3180 135th St

      OFFICE BUILDING • 1,226 SF
      3180 135th St, Opa Locka, FL 33054-4830
      View Details
    • Value Estimation
      $2,955,000
      6,425 SF

      321 Opa Locka Blvd

      OFFICE BUILDING • 6,425 SF
      321 Opa Locka Blvd, Opa Locka, FL 33054-3526
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Opa-Locka Industrial Spaces Available

      Industrial spaces with office, heavy power, and street access.
      3820 NW 135Th St, Opa Locka, FL 33054
      View Details
    • $39 SF/Yr
      6,316 SF

      Renovated Office Building For Lease

      Renovated office building with office and retail space for lease.
      2600 S Douglas Rd, Coral Gables, FL 33054
      View Details
    • Contact for pricing

      Opa-locka Retail Space Available

      8500 SF retail space with flexible usage options.
      16525 NW 27Th Ave, Opa Locka, FL 33054
      View Details
    • Contact for pricing

      Opa-Locka Warehouse Distribution Space

      Two warehouse buildings totaling 374,219 SF in Opa-Locka.
      33054 Usa, Opa Locka, FL 33054
      View Details
    • $6,450 /Mo
      3,600 SF

      Opa Locka Free-Standing Warehouse

      3,600 sqft free-standing warehouse with offices and storage.
      14020 Nw 19Th Ave, Opa Locka, FL 33054
      View Details
    • $16 SF/Yr
      8,393 SF

      Opa-locka Warehouse Space Available

      Warehouse space for rent with office and restrooms.
      2337 Northwest 149Th St, Opa Locka, FL 33054
      View Details
    View Listing
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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.

    More about this property
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    13400 Alexandria Dr, Opa Locka, FL, 33054
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