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    Homestead Land for Operational Flexibility Title is generated by Realmo AI

    22433 Southwest 217th Avenue, Homestead, FL 33031

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    Land suitable for operational flexibility and access to South Dade.

    Type:Land
    Added:
    May 21, 2026
    Days on Market:
    17
    Last Refresh:
    May 27 at 8:18 am

    Property Features for 22433 Southwest 217th Avenue

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Dazel Rick Chen

    Listing agent Dazel Rick Chen License #3589210, 492803 (4/1987-1995)

    Listing office Premier Elite Realty Miami

    Listing date May 21, 2026

    Source Crexi

    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 Premier Elite Realty Miami

    HighLights

    • Functional access to South Dade transportation corridors, offering operational flexibility.
    • Located within the robust Miami‑Dade County economy (GDP $260.8 billion in 2024) with strong commercial sales volume.
    • Lower occupancy costs compared to more urbanized Miami locations.
    • Miami‑Dade's low unemployment rate (2.4% in November 2024) and diverse employer base support business demand.
    • Homestead's emerging aerospace/spaceport strategy and infrastructure upgrades may improve long‑term perception.
    • Access to a broader 5‑mile South Dade base, suitable for specialized use compatibility.

    Overview

    This property competes on land efficiency, lower-density surroundings, and functional access to South Dade transportation corridors. This positioning may be attractive to occupiers seeking operational flexibility without paying the pricing typically associated with more urbanized Miami locations. The property benefits from being within the broader Miami-Dade County economy. Miami-Dade commercial sales volume reached $4.8 billion in the first three quarters of 2024, with retail dollar volume up 44% and office dollar volume up 10%, while industrial median sale prices rose 16%. Miami industrial vacancy was at 6.0% in Q2 2025, with Class B vacancy at 4.3% and Class C vacancy at 3.5%, while asking rents increased to $17.38 PSF NNN. Miami-Dade retail vacancy was at 3.0% at year-end 2025 with average asking rent at $49.55 PSF and more than 72.0% of newly delivered retail pre-leased. The property sits within a county economy that continues to attract business investment despite higher capital costs. Miami-Dade County GDP reached approximately $260.8 billion in 2024. Miami-Dade County’s unemployment rate was 2.4% in November 2024. Homestead’s growth narrative is increasingly tied to infrastructure and economic diversification. Homestead Air Reserve Base has been highlighted as part of the city’s emerging aerospace and spaceport strategy, while city leadership has also emphasized infrastructure upgrades, beautification, and economic development initiatives intended to support future business formation. The 1-mile population declined from 4,621 in 2020 to 3,361 in 2024, and the 3-mile population declined from 9,147 to 7,295 over the same period, while the 5-mile population increased from 22,342 to 22,918. The property’s strongest demand case is about access to the broader 5-mile South Dade base, countywide connectivity, and specialized use compatibility.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Hotel & Motel Food Market Computer & Electronic Repair (Bike/Boat/Book/etc) Store Tech Support Center Cosmetic 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
    -80.542239
    Latitude
    25.54966

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    FAQs

    What type of property is this?
    Commercial land - Land suitable for operational flexibility and access to South Dade.
    Where is this commercial land located?
    The property is located at 22433 Southwest 217th Avenue Homestead, FL.
    What is the asking price?
    The asking price for this property is $5,490,000.
    What are key features of this property?
    This property features: Functional access to South Dade transportation corridors, offering operational flexibility.; Located within the robust Miami‑Dade County economy (GDP $260.8 billion in 2024) with strong commercial sales volume.; Lower occupancy costs compared to more urbanized Miami locations.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Dazel Rick Chen
    Real Estate License ID: 3589210, 492803 (4/1987-1995)
    Learn More
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    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
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    22433 Southwest 217th Avenue, Homestead, FL 33031
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