| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 17th | Poor |
| Amenities | 35th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13122 Port Said Rd, Opa Locka, FL, 33054, US |
| Region / Metro | Opa Locka |
| Year of Construction | 1972 |
| Units | 50 |
| Transaction Date | 2015-09-25 |
| Transaction Price | $20,300,000 |
| Buyer | GLORIETA PARTNERS LTD |
| Seller | CREATIVE CHOICE HOMES II LTD |
13122 Port Said Rd, Opa Locka 50-Unit Multifamily
Neighborhood occupancy remains steady and renter demand is deep, according to WDSuite s CRE market data, supporting a stable tenant base for this Opa Locka asset.
Situated in Miami-Dade s inner suburbs, the area around 13122 Port Said Rd shows durable renter demand: neighborhood occupancy is strong and the share of renter-occupied housing units is among the highest nationally, indicating a broad tenant pool and potential leasing resilience. Based on CRE market data from WDSuite, the neighborhood s occupancy sits in the top quartile nationally, while renter concentration signals depth for workforce-oriented multifamily.
Daily needs are reasonably served: grocery access rates above national averages and cafes test well relative to peers, though neighborhood parks, pharmacies, and childcare options are limited. For investors, this mix suggests convenience for residents with some lifestyle amenities nearby, but fewer green-space and healthcare retail nodes within immediate bounds.
Vintage matters: the property s 1972 construction is older than the neighborhood s average 1978 stock, pointing to potential capital planning and value-add opportunities (systems, interiors, and common areas) to compete against newer or renovated product.
Within a 3-mile radius, households have increased in recent years even as population edged lower, reflecting smaller household sizes and demographic shifts that can expand the renter pool. Forward-looking projections indicate population and household growth through 2028, which supports occupancy stability and ongoing demand for rental units. Neighborhood-level operating performance sits near the national middle by NOI per unit, suggesting room for asset-level improvements to outperform local benchmarks.
Safety indicators for the neighborhood track below metro and national norms, placing it below the metro average among 449 Miami-area neighborhoods and in the lower national percentiles. Year over year, property crime has moved downward, which is a constructive trend to monitor alongside broader Miami-Dade dynamics. Investors should underwrite appropriate security, lighting, and operational practices and compare site-level performance to submarket peers rather than block-level assumptions.
Proximity to diversified corporate employers supports a commuter tenant base and can aid retention through convenience. Notable nearby offices span healthcare products, logistics, energy distribution, chemicals, and homebuilding.
- Johnson & Johnson d healthcare products (2.9 miles)
- Ryder System d logistics & transportation (8.4 miles) d HQ
- World Fuel Services d energy distribution (8.5 miles) d HQ
- Mosaic d chemicals & fertilizers (9.9 miles)
- Lennar d homebuilding (10.9 miles) d HQ
This 50-unit, 1972-vintage asset benefits from a neighborhood with stable occupancy and a very high share of renter-occupied housing units, indicating depth of demand and potential for steady leasing. According to commercial real estate analysis from WDSuite, the neighborhood s occupancy trends rank in the top quartile nationally, while local NOI per unit is near the national midpoint, suggesting room for property-level value creation through renovations and management.
Within a 3-mile radius, recent increases in household counts despite a modest population dip point to smaller household sizes and an expanding renter pool; projections call for additional population and household growth, supporting future demand and occupancy stability. Key underwriting considerations include affordability pressure signaled by elevated rent-to-income ratios and below-average safety readings; thoughtful capital plans and resident experience investments can help mitigate these risks and improve retention.
- Established renter base and top-quartile neighborhood occupancy support leasing stability.
- 1972 vintage offers clear value-add and systems modernization potential to outperform local NOI norms.
- Household growth within 3 miles and projected gains through 2028 expand the tenant pool.
- Access to diversified nearby employers underpins workforce demand and retention.
- Risks: affordability pressure (high rent-to-income) and below-average safety require prudent underwriting and asset management.