Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    404 Sw 157th Ave Homestead, FL 33031

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,659,000

    5-acre lot at future corner, suitable for various uses.

    Type:Land
    Lot size:
    5.00 Acres
    Added:
    May 9, 2024
    Days on Market:
    720
    Last Refresh:
    Jan 20 at 10:06 am

    Property Features for 404 Sw 157th Ave

    General Information

    Standard status
    Active
    Lot size
    5.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Noel Lopez

    Listing agent Noel Lopez License #0569135

    Listing office millennium international realty inc

    Listing date May 9, 2024

    Source Exprealty

    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 millennium international realty inc

    Overview

    5 Acres Future Corner Lot

    This 5-acre lot, measuring approximately 333 x 664, is located at the future corner of 404 Street and SW 157 Avenue in Homestead, near Card Sound Road and across the street from Cemex Concrete. It has legal access with a 40 ft frontage for general public road right of way, as per PB 11796, PG 560, along with a rear and right side 25 ft ingress and egress easement. The current land use is designated as vacant, privately-owned land.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Big Box & Wholesale Store Department Store Hotel & Motel Daycare Center Grocery & Convenience Store Food Market HVAC Service Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Homestead
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.4461
    Latitude
    25.543

    Nearby Similar for Sale

    • $949,000

      Homestead Development Site For Sale

      Prime 0.61-acre development site in a growing Homestead market.
      429 SW 6th Ave, Homestead, FL 33030
      View Details
    • $400,000

      Established Smoke Shop Business Opportunity

      Turnkey smoke shop in high-traffic Homestead location, ready for new owner.
      30318 Old Dixie Hwy, Homestead, FL 33033
      View Details
    • $350,000

      Established Smoke Shop Business Opportunity

      Turnkey smoke shop business for sale in Homestead, Florida.
      308 ne 8th st, Homestead, FL 33030
      View Details
    • $1,849,999

      Automotive Repair Facility For Sale

      Established automotive repair business and real estate in Homestead, Florida.
      105 NE 1st Rd, Homestead, FL 33030
      View Details
    • $1,525,000

      Established Plant Nursery in Homestead

      5-acre plant nursery with business and rezoning potential.
      20750 SW 256 ST, Homestead, FL 33031
      View Details
    • $1,950,000

      Renovated Downtown Homestead Retail/Office Space

      Recently renovated retail/office space in downtown Homestead, CRA funds available.
      257 N Krome Ave, Homestead, FL 33030
      View Details
    • $9,700,000

      Homestead Retail Investment Opportunity

      Triple Net Lease shopping center with value-add potential.
      854 N Krome Ave, Homestead, FL 33030
      View Details
    • $9,700,000
      16,728 SF

      Homestead Shopping Center Investment Opportunity

      Value-add shopping center with high cap rate in Homestead, FL.
      854 N Krome Ave, Homestead, FL 33030
      View Details
    • $479,000

      Established Colombian Restaurant Opportunity

      Turnkey restaurant with loyal customer base in prime location.
      28830 S Dixie Hwy, Homestead, FL 33033
      View Details
    • $450,000

      Homestead Land Near Turnpike

      One acre of land near Florida Turnpike.
      10305 SW 248th St, Homestead, FL 33032
      View Details
    • $414,900

      Homestead Vacant Land For Sale

      1.25-acre vacant lot in the Redlands area of Homestead, FL.
      SW 212th Avenue, Homestead, FL 33031
      View Details
    • $5,500,000

      Homestead Development Opportunity

      6.09-acre corner parcel approved for 55+ independent living.
      S Canal Dr, Homestead, FL 33035
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5-acre lot at future corner, suitable for various uses.
    Where is this commercial land located?
    The property is located at 404 Sw 157th Ave Homestead, FL.
    What is the asking price?
    The asking price for this property is $1,659,000.
    What are key features of this property?
    This property features: Large 5‑acre lot (333 x 664) located in the City of Homestead.; Situated at the future corner of 404 St & SW 157 Ave.; Legal access with 40 ft frontage on a general public road right of way.
    (786) 326-2428
    We can help!
    Listing Contact
    Noel Lopez
    Real Estate License ID: 0569135
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!