Homestead 5-Acre Property with
For Sale
$789,000
40350 SW 209TH AVE, Homestead, FL 33034
5 acres with new warehouse, agricultural tents, and utilities.
Property Size2,800 SF
Lot Size5.00 Acres
Price / SF$281.79
Days on Market145
Property Features for 40350 SW 209TH AVE
General Information
Standard status
Active
Size
2,800 SF
Lot size
5.00 Acres
Property subtype
Land
Zoning
8900
Taxes and HOA fees
Annual Taxes
$10,419
Listing Agency:
(786) 208-5627
Listed By:
Rafael Cabrera
(786) 208-5627
Source:
Evrealestate
Added: Apr 8
Changed: Aug 28
Last Checked: Aug 30 at 3:21PM
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 Rafael Cabrera
Investment Insights
Based on property information with market context.
This 5-acre property in Homestead features a newly constructed 2,800 sq ft warehouse (70x40) completed in 2024. The property also includes two agricultural tents, one of which is set on a new concrete pad. Essential utilities are in place, including a well, septic system, and FPL service with 220V & 440V three-phase power. One acre has been filled and approved for storage. The remaining four acres are cleared and ready for agricultural use. The entire property is fully fenced for security and privacy. This quiet location is suitable for farming, business operations, or building a custom residence.
Key Highlights
- Newly constructed 2024 warehouse (2,800 sq ft)
- 5‑acre property cleared and ready for agricultural use or development
- Benefit from FPL service with 220V & 440V three‑phase power
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
$36,705
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
4.65%
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%
$734,100
$734.1K
Cap Rate 7%
$524,357
$524.4K
Cap Rate 9%
$407,833
$407.8K
Market Conditions
NOI Build-Up for 2,800 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
$45.7K $16.32/SF
− Vacancy
−$2.5K −$0.90/SF
EGI
$43.2K $15.42/SF
− OpEx
−$6.5K −$2.31/SF
NOI
$36.7K $13.11/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
15.00%
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%
$734,100
Cap Rate 7%
$524,357
Cap Rate 9%
$407,833
Alternative Uses
Best Use
Warehouse
$524.4K
$458.8K – $611.8K
NOI $36,705 @ 7.0% cap · market cap 4.65%
Second Best
Industrial
$431.8K
$377.9K – $503.8K
NOI $30,228 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,439 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 33034, FL
22,850
Population
6,631
Households
3.4
Avg Household Size
34
Median Age
9%
College-Educated
65%
High-School Grad
1,173.1 sq mi
ZIP Area
19
Density / Sq Mi
$46,404
Median Household Income
$31,712
Median Earnings
$1,283
Median Rent
$310,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Farm - 5 acres with new warehouse, agricultural tents, and utilities.
Where is this farm located?
The property is located at 40350 SW 209TH AVE Homestead, FL.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Newly constructed 2024 warehouse (2,800 sq ft); 5‑acre property cleared and ready for agricultural use or development; Benefit from FPL service with 220V & 440V three‑phase power
