Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    240Th St Homestead, FL 33031

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime 5-acre vacant land near Redlands.

    Property Features for 0 240Th St

    General Information

    Property type
    Specialty properties

    We can help!

    Listing Contact
    Dustin Fealy

    Listing Agent: Dustin Fealy

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 5-acre parcel of cleared vacant land in Homestead, Florida, presents a unique investment opportunity. Located in Miami-Dade County, specifically west of US-1 and east of Krome Avenue, this property boasts convenient access to major roadways while maintaining a tranquil country setting. The land is within walking distance of the Redlands Golf & Country Club, offering a desirable blend of seclusion and proximity to amenities. Electricity is already available on-site, simplifying development plans. The property's ideal location makes it suitable for a variety of uses, including agricultural ventures or other commercial developments. Its expansive size provides ample space for various projects, offering significant potential for future growth and return on investment. The property is identified by Folio numbers 30-69-19-000-0460 and 30-69-19-000-0470. The southwest corner of the property is defined by the intersection of SW 170th Avenue and SW 240th Street. The asking price for this rare opportunity is $750,000. Don't miss this chance to acquire a substantial piece of land in a highly sought-after area of South Florida.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Homestead
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.521404
    Latitude
    25.5426485

    Nearby Similar for Sale

    • $2,999,999

      Renovated Medical Office in Homestead

      Free-standing, renovated medical office in a prime Homestead location.
      45 NW 4Th St, Homestead, FL 33030
      View Details
    • New
      $1,600,000
      2.02 Acres

      Turn-Key Native Plant Nursery

      Established nursery specializing in native plants with owner financing available.
      31875 SW 197Th Ave, Homestead, FL 33030
      View Details
    • $2,299,998

      Historic Landmark Office in Homestead

      Historic 1925 Homestead office building with modern upgrades for sale.
      97 NE 15Th St, Homestead, FL 33030
      View Details
    • $4,300,000
      9,907 SF

      Turnkey Motel in Homestead, FL

      Fully refurbished 30-unit motel on Krome Avenue.
      841 N Krome Ave, Homestead, FL 33030
      View Details
    • $4,300,000
      9,907 SF

      Turnkey Motel in Homestead, Florida

      Fully refurbished 30-unit motel on Krome Avenue.
      841 N Krome Ave, Homestead, FL 33030
      View Details
    • $199,900

      Established Japanese Restaurant Opportunity

      Long-standing Japanese restaurant for sale in Homestead, Florida.
      827 N Homestead Blvd, Homestead, FL 33030
      View Details
    • $2,100,000

      Homestead Commercial Property For Sale

      Freestanding 6,212 SF building on 15,000 SF lot in Homestead.
      395 N Flagler Ave, Homestead, FL 33030
      View Details
    • $9,700,000

      Homestead Retail Investment Opportunity

      Triple Net Lease shopping center with value-add potential.
      854 N Krome Ave, Homestead, FL 33030
      View Details
    • $9,700,000
      16,728 SF

      Homestead Shopping Center Investment Opportunity

      Value-add shopping center with high cap rate in Homestead.
      854 N Krome Ave, Homestead, FL 33030
      View Details
    • $199,900

      Established Japanese Restaurant For Sale

      Long-standing Japanese restaurant with loyal clientele and growth potential.
      827 N Homestead Blvd, Homestead, FL 33030
      View Details
    • New
      $699,999
      Pending

      Homestead Fourplex Investment Opportunity

      Multifamily income property in a family-friendly Homestead neighborhood.
      14923 SW 302Nd Ter, Homestead, FL 33033
      View Details
    • New
      $1,389,000

      Mixed-Use Development Opportunity

      Corner lot in downtown Homestead, potential for mixed-use development.
      226 S Krome Ave, Homestead, FL 33030
      View Details

    FAQs

    What type of property is this?
    Specialty property - Prime 5-acre vacant land near Redlands.
    Where is this specialty property located?
    The property is located at 240Th St Homestead, FL.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: 5-acre cleared vacant land in Homestead, Florida.; Located west of US-1 and east of Krome Avenue in Miami-Dade County, offering convenient access to major roadways.; Walking distance to Redlands Golf & Country Club.
    (305) 662-7325 Call to check price and availability
    Request Owner's contact information
    240Th St Homestead, FL 33031
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    240Th St
    Homestead, FL 33031
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    240Th St Homestead, FL 33031
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Dustin Fealy
    Real Estate License ID: 3287370
    (305) 662-7325
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!