| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 17th | Poor |
| Amenities | 35th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13340 Port Said Rd, Opa Locka, FL, 33054, US |
| Region / Metro | Opa Locka |
| Year of Construction | 2013 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | $450,000 |
| Buyer | ALTERNATIVE PROGRAMS INC |
| Seller | INTERAMERICAN ENGINEERING CORP |
13340 Port Said Rd Opa Locka Multifamily Investment
Newer 2013 construction in an inner-suburb pocket where neighborhood occupancy is steady and renter demand is deep, according to WDSuite’s CRE market data. The investment angle centers on durable leasing supported by a high renter-occupied housing base in the immediate area.
Located in Opa Locka within Miami-Dade County, the property sits in an Inner Suburb neighborhood with a C- rating where occupancy trends are comparatively resilient. The neighborhood’s occupancy rate is above the metro median (ranked 207 out of 449 Miami-area neighborhoods) and in the top quartile nationally, signaling stable day-to-day leasing conditions at the neighborhood level rather than the property specifically.
Renter demand is supported by a very high neighborhood share of renter-occupied housing units (competitive among Miami neighborhoods and at the top of national comparisons). That depth contrasts with the broader 3‑mile radius, which shows a more mixed tenure profile, indicating a diversified renter pool drawn from nearby employment and services. Median contract rents in the neighborhood sit above many areas nationwide, while the rent-to-income profile points to affordability pressure, suggesting careful lease management and renewal strategies.
Local amenity access is mixed: cafes and groceries are relatively competitive versus national peers (cafes near the 79th percentile and groceries near the 69th percentile nationwide), while parks and pharmacies are limited in the immediate neighborhood. This positioning supports everyday convenience but may require residents to travel a bit farther for certain services—typical for inner-suburban locations in the metro.
Within a 3‑mile radius, households have grown even as overall population edged down, and forecasts point to household expansion through 2028 alongside rising median incomes and contract rents. This shift implies smaller average household sizes and a larger tenant base over time, which can support occupancy stability and pricing power when managed prudently. These patterns align with metro-wide dynamics and are consistent with commercial real estate analysis from WDSuite.
Safety conditions in the neighborhood are weaker than many parts of the Miami metro, with the area ranking 372 out of 449 metro neighborhoods. In national terms, the neighborhood sits below average for safety. That said, recent trends are mixed: estimated property offenses have declined meaningfully year over year, while estimated violent offenses have moved higher. Investors typically account for this by calibrating security measures, tenant screening, and operating reserves.
As always, safety characteristics vary block to block and over time. The figures here reflect neighborhood-level trends rather than property-specific conditions and are intended for comparative context.
Nearby corporate employers provide a broad white-collar and logistics-oriented employment base that can underpin renter demand and commute convenience, including Johnson & Johnson, Ryder System, World Fuel Services, Mosaic, and Lennar.
- Johnson & Johnson — corporate offices (2.8 miles)
- Ryder System — corporate offices (8.4 miles) — HQ
- World Fuel Services — corporate offices (8.6 miles) — HQ
- Mosaic — corporate offices (10.0 miles)
- Lennar — corporate offices (11.0 miles) — HQ
Built in 2013, the property is materially newer than the neighborhood’s typical 1970s-era stock, offering relative competitiveness versus older assets and potential near-term capex advantages while still allowing for targeted modernization to drive rents. Neighborhood occupancy performance sits above the metro median and in the top quartile nationally, supporting a case for leasing stability. Based on CRE market data from WDSuite, the immediate area shows a very high share of renter-occupied units, indicating depth in the tenant base, while 3‑mile trends point to rising household counts and incomes over the next five years that can support rent growth when paired with disciplined affordability and renewal management.
Key considerations include neighborhood safety conditions that lag metro averages and signs of affordability pressure in local rent-to-income ratios. Amenity access is serviceable (stronger in cafes and groceries) but lighter in parks and pharmacies, which operators can offset with on-site features and resident services. Overall, the asset’s vintage, location fundamentals, and employment access position it well for steady operations with measured risk controls.
- 2013 vintage versus older area stock supports competitiveness and moderates near-term capex
- Neighborhood occupancy above metro median and top quartile nationally supports leasing stability
- Very high neighborhood renter-occupied share indicates a deep tenant base
- 3‑mile outlook shows growing households and incomes, reinforcing demand and pricing power
- Risks: below-average neighborhood safety and rent-to-income pressure require proactive operations