Corner Mixed-Use
For Sale
$2,800,000
999 N Krome Ave, Homestead, FL 33030
COMMERCIAL - Homestead, FL
Property Size4,800 SF
Lot Size0.47 Acres
Price / SF$583.33
Days on Market23
Property Features for 999 N Krome Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6300
Parking
22
Parking features
Assigned
Subdivision
79
Standard status
Active
APN
10-79-07-033-0020
Lot size
0.47 Acres
Taxes and HOA fees
Tax Description
7 57 39 SEVILLA PB 15-40 LOTS 6-7 & 8 LESS W10FT LOT SIZE 155.000 X 131 OR 18378-4698 1198 1
Legal Description
7 57 39 SEVILLA PB 15-40 LOTS 6-7 & 8 LESS W10FT LOT SIZE 155.000 X 131 OR 18378-4698 1198 1
Utilities
Cooling system
Central Air
Water source
Public
Amenities
classrooms
full kitchen
fenced play area
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Flooring type
Terrazzo, Carpet
Building materials
Block
Listing Agency:
The Keyes Company
(305) 247-7221
Listed By:
Steve Norrito · License #0443046
(786) 255-4747
Added: Jul 28
Changed: Aug 19
Last Checked: Aug 19 at 4:06PM
MLS# A12029051
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This corner mixed-use property on Krome Avenue contains approximately 4,800 SF across two units on a 0.4661-acre lot. The site includes 22 parking spaces, a one-car carport, and a one-car garage. Block construction, central air, terrazzo and carpet flooring, and public water serve the building.
The vacant approximately 2,500-SF unit includes recent HVAC and fire-suppression upgrades, classrooms, a full kitchen, two half baths, one full bath, a fenced play area, and storage. The adjoining approximately 2,300-SF physician office is leased with approximately 2.3 years remaining and 6% annual increases. B-1 zoning accommodates office, medical, retail, professional, and daycare uses. The property also has a newer roof, and its 40-year inspection was completed in 2021.
The vacant approximately 2,500-SF unit includes recent HVAC and fire-suppression upgrades, classrooms, a full kitchen, two half baths, one full bath, a fenced play area, and storage. The adjoining approximately 2,300-SF physician office is leased with approximately 2.3 years remaining and 6% annual increases. B-1 zoning accommodates office, medical, retail, professional, and daycare uses. The property also has a newer roof, and its 40-year inspection was completed in 2021.
Key Highlights
- Approximately 4,800 SF on a 20,000+ SF lot
- Two‑unit layout with approximately 2,500 SF vacant and approximately 2,300 SF physician office
- 22 parking spaces plus a 1‑car carport and 1‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$127,224
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,544,480
$2.5M
Cap Rate 7%
$1,817,486
$1.8M
Cap Rate 9%
$1,413,600
$1.4M
Market Conditions
NOI Build-Up for 4,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$218.9K $45.60/SF
− Vacancy
−$49.2K −$10.26/SF
EGI
$169.6K $35.34/SF
− OpEx
−$42.4K −$8.84/SF
NOI
$127.2K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,544,480
Cap Rate 7%
$1,817,486
Cap Rate 9%
$1,413,600
Alternative Uses
Best Use
Office B
$1.82M
$1.59M – $2.12M
NOI $127,224 @ 7.0% cap · market cap 4.54%
Second Best
Mixed Use
$1.18M
$1.04M – $1.38M
NOI $82,800 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$2.44M
$2.13M – $2.84M
NOI $170,467 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,565
Businesses Nearby
Explore this area
Business Placement
Demographics for 33030, FL
36,776
Population
11,217
Households
3.3
Avg Household Size
33
Median Age
15%
College-Educated
61%
High-School Grad
17.6 sq mi
ZIP Area
2,090
Density / Sq Mi
$43,231
Median Household Income
$28,214
Median Earnings
$1,307
Median Rent
$382,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - B-1 zoning supports office, medical, retail, and daycare uses.
Where is this mixed-use property located?
The property is located at 999 N Krome Ave Homestead, FL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Approximately 4,800 SF on a 20,000+ SF lot; Two‑unit layout with approximately 2,500 SF vacant and approximately 2,300 SF physician office; 22 parking spaces plus a 1‑car carport and 1‑car garage
