Mixed-Use Development
For Sale
$4,500,000
SW 2nd St SW 2nd St 1st Avenue, Homestead, FL 33030
The property combines existing buildings with vacant parcels across several downtown streets.
Property Size9,961 SF
Price / SF$451.76
Days on Market8
Property Features for SW 2nd St SW 2nd St 1st Avenue
General Information
Standard status
Active
Size
9,961 SF
Property subtype
Mixed Use
Listing Agency:
Cervera Real Estate Inc.
(305) 670-1550
Listed By:
Aldo Briolo · License #3304874
(786) 395-7116
Source:
Lehmannflorida
Added: Oct 29
Changed: Nov 5
Last Checked: Nov 4 at 4:47PM
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 Cervera Real Estate Inc.
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Investment Insights
Based on property information with market context.
This 10-lot Homestead assemblage covers 68,187 SF (1.57 acres), with 9,961 SF of existing building area on five lots and five vacant lots. Existing improvements include three single-family houses and two warehouse/automotive buildings. The vacant parcels provide additional land within the assemblage, which fronts SW 1 St, SW 1 Ave, and SW 2 St.
The property is in Downtown Historic Homestead, near Homestead Station at 4 South Krome Ave, a 95,946 SF mixed-use center with entertainment, an IMAX theater, retail, the Cybrarium library, 1,200 parking spaces, and a Bus Rapid Transit hub. Regional access includes Krome Avenue (SW 177 Ave), Florida's Turnpike, and US-1. The wider trade area includes major retailers, Homestead-Miami Speedway, Baptist Health Homestead Hospital, and Homestead Air Reserve Base.
Potential uses described for the site include hotel, professional office, retail, restaurant, and grocery. Residential use is described as a single use only, with special City Council approval required for up to 15 units per acre.
The property is in Downtown Historic Homestead, near Homestead Station at 4 South Krome Ave, a 95,946 SF mixed-use center with entertainment, an IMAX theater, retail, the Cybrarium library, 1,200 parking spaces, and a Bus Rapid Transit hub. Regional access includes Krome Avenue (SW 177 Ave), Florida's Turnpike, and US-1. The wider trade area includes major retailers, Homestead-Miami Speedway, Baptist Health Homestead Hospital, and Homestead Air Reserve Base.
Potential uses described for the site include hotel, professional office, retail, restaurant, and grocery. Residential use is described as a single use only, with special City Council approval required for up to 15 units per acre.
Key Highlights
- 10 contiguous lots totaling 68,187 SF (1.57 acres)
- 9,961 SF of existing building area across 5 lots
- Five vacant lots, with existing improvements including three single‑family houses and two warehouse/automotive buildings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,827
Cap Rate
3.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,436,540
$3.4M
Cap Rate 7%
$2,454,671
$2.5M
Cap Rate 9%
$1,909,189
$1.9M
Market Conditions
NOI Build-Up for 9,961 SF
Gross rent
$298.8K $30.00/SF
− Vacancy
−$23.9K −$2.40/SF
EGI
$274.9K $27.60/SF
− OpEx
−$103.1K −$10.35/SF
NOI
$171.8K $17.25/SF
Area
Miami-Dade County, FL
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,436,540
Cap Rate 7%
$2,454,671
Cap Rate 9%
$1,909,189
Alternative Uses
Best Use
Mixed Use
$2.45M
$2.15M – $2.86M
NOI $171,827 @ 7.0% cap · market cap 3.82%
Second Best
Warehouse
$1.87M
$1.63M – $2.18M
NOI $130,579 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$5.05M
$4.42M – $5.90M
NOI $353,754 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,825
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
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines existing buildings with vacant parcels across several downtown streets.
Where is this mixed-use property located?
The property is located at SW 2nd St SW 2nd St 1st Avenue Homestead, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 10 contiguous lots totaling 68,187 SF (1.57 acres); 9,961 SF of existing building area across 5 lots; Five vacant lots, with existing improvements including three single‑family houses and two warehouse/automotive buildings
