Homestead Income Property Redevelopment
For Sale
Contact for pricing
430 SW 10th Ave, Homestead, FL 33030
Income-producing property with redevelopment potential near Historic Downtown Homestead.
Property Size4,248 SF
Lot Size0.37 Acres
Price / SF$294.26
Days on Market84
Property Features for 430 SW 10th Ave
General Information
Standard status
Active
Size
4,248 SF
Total Parking Spaces
8
Lot size
0.37 Acres
Property subtype
Multifamily
Zoning
1900
Building Details
Year Built
1987
Units
4
Listing Agency:
South Florida Real Estate Grp
(786) 303-4144
Listed By:
Valentina Verdia · License #3512870
Source:
Crexi
Added: May 19
Changed: Aug 8
Last Checked: Jul 15 at 9:34PM
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 South Florida Real Estate Grp
Investment Insights
Based on property information with market context.
This property presents a rare income-producing infill redevelopment opportunity in Homestead. It features two duplexes, comprising four occupied units. Each unit includes 3 bedrooms, 1.5 bathrooms, a kitchen, a family room, washer/dryer hookups, and ample parking. The property currently generates approximately $8,400 per month in gross rental income, providing immediate cash flow. In addition to the existing improvements, the property includes approximately 16,000 square feet of additional land with conceptual potential for up to three 5,000 square feet single-family lots, subject to buyer verification and approval by the City of Homestead. The property is strategically located near Historic Downtown Homestead, major transit corridors, schools, shopping, and ongoing area growth and redevelopment. This is an ideal opportunity for investors, developers, land bankers, or buyers seeking existing income with long-term upside. The property size is 4,248 square feet.
Key Highlights
- Rare income‑producing infill redevelopment opportunity in the heart of Homestead.
- Currently generating approximately $8,400/month in gross rental income.
- Includes approximately 16,000 SF of additional land with conceptual potential for up to three single‑family lots.
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
$70,813
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
5.67%
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%
$1,416,260
$1.4M
Cap Rate 7%
$1,011,614
$1.0M
Cap Rate 9%
$786,811
$786.8K
Market Conditions
NOI Build-Up for 4,248 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
$107.0K $25.20/SF
− Vacancy
−$5.9K −$1.39/SF
EGI
$101.2K $23.81/SF
− OpEx
−$30.3K −$7.14/SF
NOI
$70.8K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,416,260
Cap Rate 7%
$1,011,614
Cap Rate 9%
$786,811
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$885.2K – $1.18M
NOI $70,813 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$933.3K
$816.6K – $1.09M
NOI $65,331 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$2.16M
$1.89M – $2.51M
NOI $150,863 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
760
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing property with redevelopment potential near Historic Downtown Homestead.
Where is this duplex located?
The property is located at 430 SW 10th Ave Homestead, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Rare income‑producing infill redevelopment opportunity in the heart of Homestead.; Currently generating approximately $8,400/month in gross rental income.; Includes approximately 16,000 SF of additional land with conceptual potential for up to three single‑family lots.
