Mixed-Use Property with Private
For Sale
$3,200,000
313 N Krome Ave, Homestead, FL 33030
Seven-unit building combining commercial space with residential units along Krome Avenue.
Property Size7,820 SF
Price / SF$410.26
Days on Market39
Property Features for 313 N Krome Ave
General Information
Standard status
Active
Size
7,820 SF
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1939
Buildings
1
Building Size
7,820 SF
Listing Agency:
RE/MAX Gold
Listed By:
Bessy Fay Paraohao, Bessie Paraohao · License #3071630
(772) 899-4014
Source:
Chenoregroup
Added: Aug 8
Changed: Sep 8
Last Checked: Sep 14 at 4:09PM
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 RE/MAX Gold
Investment Insights
Based on property information with market context.
Built in 1939, this mixed-use property contains approximately 7,820 square feet across three commercial units and four residential units. The building also includes private parking and is organized across two folios. Commercial space is suited to office-oriented occupancy, including medical and professional uses, while the residential component adds a separate income-producing element to the property’s configuration.
The property fronts N Krome Avenue in Homestead, with access to the corridor and proximity to Miami Dade College Homestead Campus and Metro Express Bus Rapid Transit. Established businesses and residential neighborhoods surround the site, placing both commercial and residential uses within an active local setting.
The property fronts N Krome Avenue in Homestead, with access to the corridor and proximity to Miami Dade College Homestead Campus and Metro Express Bus Rapid Transit. Established businesses and residential neighborhoods surround the site, placing both commercial and residential uses within an active local setting.
Key Highlights
- Approximately 7,820 square feet of mixed‑use space
- 3 commercial units and 4 residential units
- Private parking included
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
$206,739
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
6.46%
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%
$4,134,780
$4.1M
Cap Rate 7%
$2,953,414
$3.0M
Cap Rate 9%
$2,297,100
$2.3M
Market Conditions
NOI Build-Up for 7,800 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
$355.7K $45.60/SF
− Vacancy
−$80.0K −$10.26/SF
EGI
$275.7K $35.34/SF
− OpEx
−$68.9K −$8.84/SF
NOI
$206.7K $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%
$4,134,780
Cap Rate 7%
$2,953,414
Cap Rate 9%
$2,297,100
Alternative Uses
Best Use
Office B
$2.95M
$2.58M – $3.45M
NOI $206,739 @ 7.0% cap · market cap 6.46%
Second Best
Mixed Use
$1.92M
$1.68M – $2.24M
NOI $134,550 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$3.96M
$3.46M – $4.62M
NOI $277,009 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,737
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Seven-unit building combining commercial space with residential units along Krome Avenue.
Where is this mixed-use property located?
The property is located at 313 N Krome Ave Homestead, FL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Approximately 7,820 square feet of mixed‑use space; 3 commercial units and 4 residential units; Private parking included
