Homestead Commercial Property on
For Sale
$3,980,000
600 N Homestead Blvd, Homestead, FL 33030
Prime commercial property in Homestead, Florida, with versatile B-1 zoning.
Property Size4,868 SF
Days on Market294
Property Features for 600 N Homestead Blvd
General Information
Standard status
Active
Size
4,868 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$27,353
Building Details
Building Size
4,868 SF
Year Built
1994
Listing Agency:
South Florida Properties Inc
Listed By:
Carlos Sotolongo · License #0606424
(305) 400-6117
Source:
Relinkre
Added: Nov 12, 2025
Changed: Aug 31
Last Checked: Sep 1 at 11:42PM
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 Properties Inc
Investment Insights
Based on property information with market context.
This prime commercial property is situated on a 1.5-acre lot, encompassing 65,775 square feet, and is prominently located directly on US 1/Homestead Blvd. The expansive triangular lot is positioned at the corner of US HWY 1 and NE 6th Avenue in Homestead, Florida. The property features a 4,868 square foot building, formerly a bank, that has been professionally redesigned into a modern medical center, with floorplans available. It includes 37 parking spaces for customers and employees, along with excellent signage visibility. The property is centrally located near the main shopping and historic district of Homestead. Zoned B-1 restricted retail commercial district with light commercial use (LCU), the location is suitable for various uses, including retail, medical clinics, professional offices, fast food restaurants, and banks.
Key Highlights
- Prime commercial property on a large 1.5 acre lot (65,775 SF) on US 1/Homestead Blvd.
- Located at the high‑visibility corner of US HWY 1 & NE 6th Avenue in Homestead, Florida.
- 4,868 SF building, formerly a bank, professionally redesigned into a modern medical center (floorplans available).**
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
$129,026
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
3.24%
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%
$2,580,520
$2.6M
Cap Rate 7%
$1,843,229
$1.8M
Cap Rate 9%
$1,433,622
$1.4M
Market Conditions
NOI Build-Up for 4,868 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
$222.0K $45.60/SF
− Vacancy
−$49.9K −$10.26/SF
EGI
$172.0K $35.34/SF
− OpEx
−$43.0K −$8.84/SF
NOI
$129.0K $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 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%
$2,580,520
Cap Rate 7%
$1,843,229
Cap Rate 9%
$1,433,622
Alternative Uses
Best Use
Office B
$1.84M
$1.61M – $2.15M
NOI $129,026 @ 7.0% cap · market cap 3.24%
Second Best
Healthcare Medical
$916.3K
$801.8K – $1.07M
NOI $64,141 @ 7.0% cap · market cap 1.61%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,882 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,084
Businesses Nearby
Well-served
Demand for This Use
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Veterinary Specialists Inc: Teresa Tucci, DVM DACVO — 91 NE 6th St, Homestead, FL 33030
Frequently Asked Questions
What type of property is this?
Medical Office Space - Prime commercial property in Homestead, Florida, with versatile B-1 zoning.
Where is this medical office space located?
The property is located at 600 N Homestead Blvd Homestead, FL.
What is the asking price?
The asking price for this property is $3,980,000.
What are key features of this property?
This property features: Prime commercial property on a large 1.5 acre lot (65,775 SF) on US 1/Homestead Blvd.; Located at the high‑visibility corner of US HWY 1 & NE 6th Avenue in Homestead, Florida.; 4,868 SF building, formerly a bank, professionally redesigned into a modern medical center (floorplans available).**
