Recently Renovated Office-Retail
For Sale
$1,500,000
257 N Krome Avenue, Homestead, FL 33030
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 Market98
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) 247-7221
Listed By:
Louis R Melara · License #0660380
(305) 281-9472
Source:
Lehmannflorida
Added: Jul 22
Changed: Oct 27
Last Checked: Oct 26 at 3:44PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$99,394
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,987,880
$2.0M
Cap Rate 7%
$1,419,914
$1.4M
Cap Rate 9%
$1,104,378
$1.1M
Market Conditions
NOI Build-Up for 3,750 SF
Gross rent
$171.0K $45.60/SF
− Vacancy
−$38.5K −$10.26/SF
EGI
$132.5K $35.34/SF
− OpEx
−$33.1K −$8.84/SF
NOI
$99.4K $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 Rate 5%
$1,987,880
Cap Rate 7%
$1,419,914
Cap Rate 9%
$1,104,378
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,737
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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
