Mixed-Use Property with On-Site
New
For Sale
$2,800,000
999 N Krome Ave, Homestead, FL 33030
Two units pair an available, improved space with a leased physician office.
Property Size4,834 SF
Price / SF$579.23
Days on Market3
Property Features for 999 N Krome Ave
General Information
Standard status
Active
Size
4,834 SF
Total Parking Spaces
22
Property subtype
Commercial
Zoning
6300
Additional Details
Gross Income
$77,124
Corner Location
Yes
Sprinkler System
Yes
Office Units
2
Tenant in Place
Yes
Building Details
Building Size
4,834 SF
Year Built
1950
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
The Keyes Company
(305) 247-7221
Listed By:
Steve Norrito · License #0443046
(786) 255-4747
Source:
Futureoptionrealty
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 24 at 3:16PM
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 The Keyes Company
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Investment Insights
Based on property information with market context.
This two-unit mixed-use building contains 4,834 square feet on a lot exceeding 20,000 square feet. The vacant space measures approximately 2,500 square feet and includes classrooms, a full kitchen, two half baths, one full bath, a fenced play area, and storage. Improvements include HVAC and a fire suppression system. The adjoining physician office is approximately 2,300 square feet and leased, with about 2.3 years remaining and annual rent increases of 6%. The property also has 22 parking spaces, a one-car carport, and a one-car garage.
Located on Krome Avenue, the property has a newer roof and completed its 40-year inspection in 2021. The building was constructed in 1950.
Located on Krome Avenue, the property has a newer roof and completed its 40-year inspection in 2021. The building was constructed in 1950.
Key Highlights
- 4,834‑square‑foot building on a 20,000+ SF lot
- Two units: approximately 2,500 SF vacant space and approximately 2,300 SF leased physician office
- 22 parking spaces, plus a 1‑car carport and 1‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,125
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,562,500
$2.6M
Cap Rate 7%
$1,830,357
$1.8M
Cap Rate 9%
$1,423,611
$1.4M
Market Conditions
NOI Build-Up for 4,834 SF
Gross rent
$220.4K $45.60/SF
− Vacancy
−$49.6K −$10.26/SF
EGI
$170.8K $35.34/SF
− OpEx
−$42.7K −$8.84/SF
NOI
$128.1K $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 Rate 5%
$2,562,500
Cap Rate 7%
$1,830,357
Cap Rate 9%
$1,423,611
Alternative Uses
Best Use
Office B
$1.83M
$1.60M – $2.14M
NOI $128,125 @ 7.0% cap · market cap 4.58%
Second Best
Mixed Use
$1.19M
$1.04M – $1.39M
NOI $83,387 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$2.45M
$2.15M – $2.86M
NOI $171,674 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,565
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two units pair an available, improved space with a leased physician office.
Where is this mixed-use property located?
The property is located at 999 N Krome Ave Homestead, FL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 4,834‑square‑foot building on a 20,000+ SF lot; Two units: approximately 2,500 SF vacant space and approximately 2,300 SF leased physician office; 22 parking spaces, plus a 1‑car carport and 1‑car garage
