Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    188 Krome Ave Miami, FL 33187

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    188 Krome Ave Miami, FL 33187

    View on Map
    • Specialty properties
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 188 Krome Ave

    Property type
    Specialty properties

    Description

    This exceptional 5-acre (4.27 net/5.15 gross) property, located at 188th Street on SW Krome Avenue in Unincorporated Dade County, Florida (zip code 33187), presents a unique investment opportunity. Boasting 330 feet of well-lit frontage on Krome Avenue (also known as 177th Avenue), a major thoroughfare with high traffic volume, this site is ideally suited for agricultural sales or agritourism ventures. The area is renowned for its agricultural businesses and event venues. The property benefits from easy Krome Avenue access and is situated in a Flood Zone X area, eliminating flood insurance requirements. The land itself features desirable rockland soil, and all infrastructure is conveniently located in a single area for maximum usability. Existing improvements include an air-conditioned office with a kitchen and bathroom, dog kennels, ample storage space, perimeter fencing, and an irrigation system. The property is serviced by septic and wells, resulting in no water or city taxes. This unique Miami-Dade County offering can be sold with or without existing inventory. The asking price is $2,495,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.4784
    Latitude
    25.6013

    Comparable in this City

    • Value Estimation by Request

      Unincorporated County

      Specialty properties
      0 Unincorporated County, Richmond West, FL 33187
      View Details
    • Value Estimation by Request

      160 Ave St

      Specialty properties
      160 Ave St, Miami, FL 33187
      View Details
    • Value Estimation by Request

      19250 168Th St

      Specialty properties
      19250 168Th St, Miami, FL 33187
      View Details
    • Value Estimation by Request

      153Xx 177Th Ave

      Specialty properties
      153Xx 177Th Ave, Miami, FL 33187
      View Details
    • Value Estimation by Request

      15785 212 Ave

      Specialty properties
      15785 212 Ave, The Hammocks, FL 33187
      View Details
    • Value Estimation by Request

      180 190Th Ave

      Specialty properties
      180 190Th Ave, Miami, FL 33187
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Redland Turn-Key Nursery Opportunity

      15-acre turn-key nursery with multiple structures and development potential.
      17100/17150 SW 197Th Ave, Miami, FL 33187
      View Details
    • Contact for pricing
      3.38 Acres

      Miami Nursery Land For Lease

      Lease opportunity: working nursery on approximately 3.5 acres.
      17450 SW 208Th St, Miami, FL 33187
      View Details
    • $4,800,000

      Prime Land with Established Business

      5.5 acres with business on high-traffic Krome Ave.
      20425 SW 177Th Ave, Miami, FL 33187
      View Details
    • $1,750,000
      2.08 Acres

      Krome Avenue Commercial Land Opportunity

      2.08 acres on Krome Ave, currently rented to nursery.
      18955 SW 177Th Ave, Miami, FL 33187
      View Details
    • New
      $3,890,000
      5.20 Acres

      Turnkey Income Producing Estate

      Diversified income streams on 5.2 acres in The Redlands.
      20455 SW 154Th Ave, Miami, FL 33187
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,413 SF

      Retail Space in Publix-Anchored Center

      Retail space available in Miami-Dade, excellent daytime traffic.
      18200-18232 SW 147Th Ave, Miami, FL 33187
      View Details
    • Contact for pricing

      Commercial Land on Krome Avenue

      Commercial land for rent with high visibility and accessibility.
      20090 SW 177Th Ave, Miami, FL 33187
      View Details
    • $9,000 /Mo
      410,771 SF

      Packing House with Mango Trees

      9+ acres with buildings, coolers, and mango trees.
      20601 SW 194Th Ave, Miami, FL 33187
      View Details
    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.
    188 Krome Ave
    Miami, FL 33187
    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

    188 Krome Ave, Miami, FL, 33187

    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!