Recently Renovated Office-Retail
257 N Krome Avenue Homestead, FL 33030
For Sale
$1,500,000
Recently renovated office and retail space with CRA funds available and a tenant-usable mix encouraged by the program.
Property Size3,750 SF
Price / SF$400
Days on Market8
Property Features for 257 N Krome Avenue
General Information
Standard status
Active
Size
3,750 SF
Property subtype
Office
Building Details
Year Built
1958
Listing Agency:
The Keyes Company
(305) 281-9472
Listed By:
Louis R Melara · License #0660380
(305) 281-9472
Source:
Lehmannflorida
Added: Jul 22
Changed: Jul 27
Last Checked: Jul 29 at 6:06AM
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 recently renovated office/retail space offers a flexible layout suited to a range of street-facing uses. Property uses encouraged include professional offices, restaurants and open-air cafes (excluding drive-in or drive-thru), plus a variety of specialty retail concepts such as a bakery with retail sales on site, coffee shops, wine bars, day spa/salon, and art galleries.
The property is located at 257 N Krome Avenue in downtown Homestead, FL 33030. CRA funds are available, which may support qualifying improvements and tenancy. Additional encouraged uses listed include bar and lounge, boutique clothing retail, bookstores (excluding adult book stores), florists, and select indoor entertainment concepts such as billiards and game rooms.
The property is located at 257 N Krome Avenue in downtown Homestead, FL 33030. CRA funds are available, which may support qualifying improvements and tenancy. Additional encouraged uses listed include bar and lounge, boutique clothing retail, bookstores (excluding adult book stores), florists, and select indoor entertainment concepts such as billiards and game rooms.
Key Highlights
- Recently renovated office/retail space in downtown Homestead
- Year built: 1958
- CRA funds available
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $171.0k | $45.60 |
| − Vacancy | −$38.5k | −$10.26 |
| EGI | $132.5k | $35.34 |
| − OpEx | −$33.1k | −$8.84 |
| NOI | $99.4k | $26.51 |
3,750 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.42M
$1.24M – $1.66M
NOI $99,394 @ 7.0% cap · market cap 6.63%
Second Best
Retail
$905.8K
$792.6K – $1.06M
NOI $63,409 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,177 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Recently renovated office and retail space with CRA funds available and a tenant-usable mix encouraged by the program.
Where is this office building located?
The property is located at 257 N Krome Avenue Homestead, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Recently renovated office/retail space in downtown Homestead; Year built: 1958; CRA funds available
