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    401 Palm Dr Homestead, FL 33034

    Sponsored
    For Sale
    $1,400,000

    Homestead, FL retail investment

    Property size:
    2,569 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This Homestead, Florida retail center offers a compelling investment opportunity. The 2,569 square foot property, situated on a 26,250 square foot lot, comprises six fully occupied units in a single-story building. Built in 1949 and renovated in 2015, the property boasts a 3.75% cap rate and a strong net operating income (NOI) of $52,540. The C-1 zoning allows for diverse uses, including daycare, shopping center, and storefront options. With 16 parking spaces and 100% occupancy, this stabilized investment presents a solid return. The property's strategic location across from Florida City Hall on Palm Drive in Miami-Dade County, Florida (zip code 33034) adds significant value. The $1,400,000 asking price translates to $544.96 per square foot and $53 per square foot for the land. This presents a chance to capitalize on current income while exploring future redevelopment potential. The gross lease structure simplifies management, and the multi-tenant setup provides diversification.

    Property Features for 401 Palm Dr

    General Information

    Property type
    Day care centers
    Square Feet
    2,569 SF
    Class
    C

    Building Details

    Year Built/Renovated
    1949/2015
    Buildings
    1
    Stories
    1
    Units
    6

    HighLights

    • 2,569 SF retail center on a 26,250 SF lot in Homestead, FL.
    • Six fully occupied units in a single‑story building, built in 1949, renovated in 2015.
    • 3.75% cap rate and $52,540 NOI.
    • C‑1 zoning allows for diverse uses, including daycare and retail.
    • $1,400,000 asking price ($544.96/SF building, $53/SF land).
    Property Profile Location Intelligence

    Current Use by Public Records

    Vigo Money Transfer Service Alexa's Multiservices Money Transfer Service Exit 1 Barbershop ... Barber Shop Julio's Barber Shop Barber Shop Sunshine Union Mortgage ... Mortgage Lender

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Homestead
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.482138216003
    Latitude
    25.447731979012

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    FAQs

    What type of property is this?
    Day care center - Homestead, FL retail investment
    Where is this day care center located?
    The property is located at 401 Palm Dr Homestead, FL.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: 2,569 SF retail center on a 26,250 SF lot in Homestead, FL.; Six fully occupied units in a single-story building, built in 1949, renovated in 2015.; 3.75% cap rate and $52,540 NOI.
    Request Owner's contact information
    401 Palm Dr Homestead, FL 33034
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    401 Palm Dr Homestead, FL 33034
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