Corner Daycare and Medical
For Sale
$2,800,000
999 N Krome Ave, Homestead, FL 33030
Two-unit corner property with turnkey daycare features, plus a leased physician office and on-site parking.
Property Size4,834 SF
Price / SF$583.33
Days on Market77
Property Features for 999 N Krome Ave
General Information
Standard status
Active
Size
4,834 SF
Total Parking Spaces
22
Property subtype
Commercial
Site & Location
Road Access
Yes
Fenced Yard
Yes
Additional Details
Business Included
Yes
Sprinkler System
Yes
Office Units
1
Building Details
Building Size
4,834 SF
Year Built
1950
Stories
1
Tenancy
Multi
Listing Agency:
Keyes Company Realtors
(786) 412-9736
Listed By:
Karen Ruiz · License #0443046
(786) 412-9736
Source:
Elliman
Added: Jun 4
Changed: Aug 12
Last Checked: Aug 18 at 6:53AM
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 Keyes Company Realtors
Investment Insights
Based on property information with market context.
This corner commercial property totals approximately 4,800 SF and sits on a 20,000+ SF lot. The building is configured as two separate units, including a turnkey permitted daycare center of approximately 2,500 SF and a physician office of approximately 2,300 SF. The daycare unit includes classrooms, a full kitchen, two half baths and one full bath, a fenced play area, and ample storage. Reported improvements for the daycare include $150,000+ in renovations, new HVAC, and a fire suppression/sprinkler system. The physician office includes exam rooms, a break room, two half baths, and storage. The property also has a newer roof, and a 40-year inspection was completed in 2021. Off-street parking includes 22 spaces, along with a 1-car carport and a 1-car garage.
The property is located on highly traveled Krome Avenue with direct corner exposure. Access and parking are supported by the on-site lot improvements and the 22-space parking configuration.
For tenants, an operator could pursue the daycare use with the included classrooms, kitchen, and fenced play area, alongside the reported HVAC and fire suppression upgrades. For buyers, the second unit provides an additional leased income stream from the physician office, which is described as having 3 years remaining with 5% annual increases. The listing also notes owner financing terms, with $800,000 down and 8% interest-only payments amortized over 30 years to a balloon in 2 years.
The property is located on highly traveled Krome Avenue with direct corner exposure. Access and parking are supported by the on-site lot improvements and the 22-space parking configuration.
For tenants, an operator could pursue the daycare use with the included classrooms, kitchen, and fenced play area, alongside the reported HVAC and fire suppression upgrades. For buyers, the second unit provides an additional leased income stream from the physician office, which is described as having 3 years remaining with 5% annual increases. The listing also notes owner financing terms, with $800,000 down and 8% interest-only payments amortized over 30 years to a balloon in 2 years.
Key Highlights
- Corner property on Krome Avenue with direct exposure; approx. 4,800 SF on a 20k+ SF lot with 22 parking spaces.
- Two‑unit setup: approx. 2,500 SF permitted daycare center and approx. 2,300 SF physician office.
- Physician office is leased at $6,000/month with 5% annual increases and 3 years remaining.
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
Healthcare Medical
$903.5K
$790.6K – $1.05M
NOI $63,245 @ 7.0% cap · market cap 2.26%
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
1
Office units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Sprinkler system
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,565
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Day care center - Two-unit corner property with turnkey daycare features, plus a leased physician office and on-site parking.
Where is this day care center 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: Corner property on Krome Avenue with direct exposure; approx. 4,800 SF on a 20k+ SF lot with 22 parking spaces.; Two‑unit setup: approx. 2,500 SF permitted daycare center and approx. 2,300 SF physician office.; Physician office is leased at $6,000/month with 5% annual increases and 3 years remaining.
