Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Ready Live-Work Space For Rent Title is generated by Realmo AI

    745 Parkway Pkwy, Homestead, FL 33030

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Ready for immediate occupancy as office or apartment in Homestead.

    Type:Industrial, Special Purpose
    Added:
    Nov 2, 2023
    Days on Market:
    942
    Last Refresh:
    May 12 at 10:06 pm

    Property Features for 745 Parkway Pkwy

    General Information

    Standard status
    Active
    Property subtype
    Industrial, Special Purpose

    Spaces For Lease

    at 745 Parkway Pkwy Contact us

    $2,999/Mo

    Size
    Type
    Industrial, Special Purpose
    Contact us

    We can help!

    Listing Contact
    Sara Rodriguez

    Listing agent Sara Rodriguez

    Listing office Florida Realty of Miami Corp

    Listing date Nov 2, 2023

    Source Crexi

    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 Florida Realty of Miami Corp

    HighLights

    • Ready for immediate occupancy
    • Suitable for business or residential use
    • Excellent accessibility to major transportation routes
    • Can be used as an office
    • Can be used as an apartment
    • All offers are considered

    Overview

    This property is ready to be occupied and can be used for business operations as an office or as an apartment for living purposes. The property offers excellent accessibility to major transportation routes.
    Location Intelligence

    Current Use by Public Records

    Live-work space

    Map

    City
    Homestead
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.5094
    Latitude
    25.4848

    Nearby Similar for Lease

    • $6,000/Mo
      2,122 SF

      Homestead Office Suite For Rent

      Modern 2,122 SF office suite in Homestead, Florida.
      925 NE 30th Ter, Homestead, FL 33033
      View Details
    • $6,000/Mo
      2,070 SF

      Homestead Office Suite For Rent

      Modern 2,070 SF office suite in Homestead, Florida.
      925 NE 30th Ter, Homestead, FL 33033
      View Details
    • $1,500/Mo

      Retail Space in High-Traffic Area

      Sub-rent space in Ariane Beauty and Barber Salon.
      33521 S Dixie Hwy, Homestead, FL 33034
      View Details
    • $6,399/Mo
      2,000 SF

      Downtown Homestead Retail/Office Space

      Renovated retail/office space in high-visibility downtown location.
      51 N Krome Avenue, Homestead, FL 33030
      View Details
    • $4,305/Mo
      1,722 SF

      Prime Commercial Space on Krome

      Bustling Krome Ave, ideal for retail, office, or showroom.
      112 N Krome Ave, Homestead, FL 33030
      View Details
    • $20,000/Mo
      1,900 SF

      Prime Commercial Property on US-1

      High-visibility commercial property on US-1 with BU-3 zoning.
      30005 S Dixie Highway, Homestead, FL 33033
      View Details
    • $12,950/Mo

      High-Visibility Retail/Bank Space Available

      Prime location for retail bank branch or financial services hub.
      24701 S Dixie Hwy, Homestead, FL 33032
      View Details
    • $23 SF/Yr
      1,409 SF

      Homestead Industrial/Warehouse Space For Rent

      Industrial/warehouse space in Homestead's industrial district, suitable for various businesses.
      238 NW 9th Ave # 2, Homestead, FL 33030
      View Details
    • $30 SF/Yr
      18,691 SF

      Leisure City End-Cap Retail Space

      End-cap retail space in Leisure City's only retail center.
      29345 SW 152nd Ave, Homestead, FL 33033
      View Details
    • $33 SF/Yr
      710 SF

      Retail Space with Flexible Layouts

      Retail space for rent featuring flexible layouts and ample parking.
      27525 S Dixie Hwy, Homestead, FL
      View Details
    • $33 SF/Yr
      2,840 SF

      Retail Space with Excellent Frontage

      Retail space for rent featuring flexible layouts and ample parking.
      27525-27535 S Dixie Hwy, Homestead, FL
      View Details
    • $0.18 SF/Yr
      2,122 SF

      Office

      925 NE 30th Ter # 312, Homestead, FL 33033
      View Details

    FAQs

    What type of property is this?
    Live-work space - Ready for immediate occupancy as office or apartment in Homestead.
    Where is this live-work space located?
    The property is located at 745 Parkway Pkwy Homestead, FL.
    What is the lease rate?
    The lease rate is $35,988.
    What are key features of this property?
    This property features: Ready for immediate occupancy; Suitable for business or residential use; Excellent accessibility to major transportation routes
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Sara Rodriguez
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    745 Parkway Pkwy, Homestead, FL 33030
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!