Agricultural Warehouse with Loading
For Sale
$1,600,000
Pending
10720 SW 256th St, Homestead, FL 33032
Fenced agricultural property with offices, roll-up doors, and three-phase power.
Property Size10,100 SF
Days on Market2116
Property Features for 10720 SW 256th St
General Information
Standard status
Pending
Size
10,100 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$9,525
Amenities
3
Building Details
Year Built
1994
Listing Agency:
(305) 431-8407
Listed By:
The Keyes Company
(305) 431-8407
Source:
Xome
Added: Nov 15, 2020
Changed: Aug 29
Last Checked: Aug 29 at 1:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Keyes Company
Investment Insights
Based on property information with market context.
This agriculturally zoned property in Homestead includes approximately 5 acres and a steel warehouse built in 1994. The secured site is fenced and gated, with roll-up doors, a detached dock-height loading area, exterior lighting, and several offices. Interior support areas include a kitchen, employee break room, and an approximately 15-by-30-foot cooler.
The property is situated in south Dade County near Homestead Airforce Base and a proposed Amazon warehouse. Three-phase power supports warehouse and agricultural operations, while the existing loading, office, refrigeration, and employee areas provide a functional commercial setup.
The property is situated in south Dade County near Homestead Airforce Base and a proposed Amazon warehouse. Three-phase power supports warehouse and agricultural operations, while the existing loading, office, refrigeration, and employee areas provide a functional commercial setup.
Key Highlights
- Approximately 5 acres of agriculturally zoned land
- Steel warehouse built in 1994
- Fenced and gated property with roll‑up doors
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
$132,401
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
8.28%
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%
$2,648,020
$2.6M
Cap Rate 7%
$1,891,443
$1.9M
Cap Rate 9%
$1,471,122
$1.5M
Market Conditions
NOI Build-Up for 10,100 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
$164.8K $16.32/SF
− Vacancy
−$9.1K −$0.90/SF
EGI
$155.8K $15.42/SF
− OpEx
−$23.4K −$2.31/SF
NOI
$132.4K $13.11/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
15.00%
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%
$2,648,020
Cap Rate 7%
$1,891,443
Cap Rate 9%
$1,471,122
Alternative Uses
Best Use
Warehouse
$1.89M
$1.66M – $2.21M
NOI $132,401 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.12M
$4.48M – $5.98M
NOI $358,691 @ 7.0% cap · market cap 22.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33032, FL
58,727
Population
19,102
Households
3.1
Avg Household Size
34
Median Age
24%
College-Educated
83%
High-School Grad
18.2 sq mi
ZIP Area
3,227
Density / Sq Mi
$74,995
Median Household Income
$36,515
Median Earnings
$1,626
Median Rent
$374,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Fenced agricultural property with offices, roll-up doors, and three-phase power.
Where is this warehouse located?
The property is located at 10720 SW 256th St Homestead, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Approximately 5 acres of agriculturally zoned land; Steel warehouse built in 1994; Fenced and gated property with roll‑up doors
