Fourplex with Development
For Sale
$1,475,000
520 SW Krome Ter, Homestead, FL 33030
Fourplex near Krome Avenue with development potential and steady income.
Property Size3,907 SF
Days on Market173
Property Features for 520 SW Krome Ter
General Information
Standard status
Active
Size
3,907 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,162
Building Details
Building Size
3,907 SF
Year Built
1972
Stories
2
Listing Agency:
Charleemax Realtors
(305) 216-3433
Listed By:
Aliette Perez · License #3352147
(305) 216-3433
Source:
Elliman
Added: Mar 11
Changed: Aug 16
Last Checked: Aug 29 at 2:38PM
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 Charleemax Realtors
Investment Insights
Based on property information with market context.
This fourplex is located just off Krome Avenue, near US-1, and minutes from downtown Homestead. Each of the four units includes 2 bedrooms and 1 bath. The property has a 40-year recertification valid through June 27, 2032. The listing includes the fourplex with two neighboring lots, offering development potential. This property is suitable for investors seeking immediate cash flow.
Key Highlights
- Fourplex providing immediate and steady rental income.
- Includes two neighboring lots, increasing property size and value.
- Located in a high‑growth area near Krome Avenue, US‑1, and downtown Homestead.
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
$65,129
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
4.42%
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%
$1,302,580
$1.3M
Cap Rate 7%
$930,414
$930.4K
Cap Rate 9%
$723,656
$723.7K
Market Conditions
NOI Build-Up for 3,907 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
$98.5K $25.20/SF
− Vacancy
−$5.4K −$1.39/SF
EGI
$93.0K $23.81/SF
− OpEx
−$27.9K −$7.14/SF
NOI
$65.1K $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%
$1,302,580
Cap Rate 7%
$930,414
Cap Rate 9%
$723,656
Alternative Uses
Best Use
Multifamily LT 5
$930.4K
$814.1K – $1.09M
NOI $65,129 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$858.4K
$751.1K – $1.00M
NOI $60,087 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,753 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,600
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?
Quadplex - Fourplex near Krome Avenue with development potential and steady income.
Where is this quadplex located?
The property is located at 520 SW Krome Ter Homestead, FL.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Fourplex providing immediate and steady rental income.; Includes two neighboring lots, increasing property size and value.; Located in a high‑growth area near Krome Avenue, US‑1, and downtown Homestead.
