Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3Rd Ave Homestead, FL 33030

    • Specialty properties
    • 30,256 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 0 3Rd Ave

    Property size
    30,256 SF
    Property type
    Specialty properties

    Description

    This exceptional commercial development opportunity is located in Homestead, Florida's desirable Southwest Planned Urban Neighborhood (SWPUN), directly adjacent to the Miami-Dade Bus Way. The property, encompassing two lots totaling 30,256 square feet, is zoned Neighborhood Mixed Use (NMU) Subarea, allowing for a wide range of development possibilities. Imagine a five-story building accommodating diverse uses, from residential units and hotels to professional offices and retail spaces. The site's strategic location presents a unique chance to serve a variety of consumer needs. Potential uses include, but are not limited to, restaurants, grocery stores, convenience stores with gas sales, daycare centers, community residential homes, funeral homes, churches, or places of worship. This is a rare chance to acquire a substantial parcel in a rapidly growing area with excellent transit access. The asking price for this significant development opportunity is $950,000. Detailed zoning information and permitted uses are available upon request. Don't miss this chance to shape the future of Homestead. The property is located at 3rd Ave, Homestead, FL 33030, in Miami-Dade County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Homestead
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.5272
    Latitude
    25.4803

    Comparable in this City

    • Value Estimation by Request

      22800 304Th St

      Specialty properties
      22800 304Th St, Homestead, FL 33030
      View Details
    • Value Estimation by Request

      504 6Th Ave

      Specialty properties
      504 6Th Ave, Homestead, FL 33030
      View Details
    • Value Estimation by Request

      19380 280Th St

      Specialty properties
      19380 280Th St, Homestead, FL 33030
      View Details
    • Value Estimation by Request

      22800 304Th St

      Specialty properties
      22800 304Th St, Homestead, FL 33030
      View Details
    • Value Estimation
      $295,000
      3,185 SF

      422 11th Ave

      CHARITABLE ORGANIZATION • 3,185 SF
      422 11th Ave, Homestead, FL 33030-6829
      View Details
    • Value Estimation
      $305,000
      5,705 SF

      412 6th Ave

      CHARITABLE ORGANIZATION • 5,705 SF
      412 6th Ave, Homestead, FL 33030
      View Details

    Similar Nearby for Sale

    • $395,000
      2,474 SF

      Homestead Church - Prime Location

      2,474 SF Church, $395,000
      655 5Th St, Homestead, FL 33030
      View Details
    • $2,500,000

      Homestead Tropical Fruit Farm

      Profitable Florida Fruit Orchard - $2.5M
      0 202Nd Ave, Homestead, FL 33030
      View Details
    • $650,000

      Homestead Commercial Land Investment

      Two lots, 12,222 sq ft
      504 6Th Ave, Homestead, FL 33030
      View Details
    • $759,000

      Homestead Guava Farm - $759K

      5-Acre Income-Producing Guava Farm near Miami
      22800 304Th St, Homestead, FL 33030
      View Details
    • $635,000

      Homestead Commercial Lot - $635K

      Prime Homestead location, high visibility, investment opportunity.
      233 Krome Ave, Homestead, FL 33030
      View Details
    • $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

    Similar Nearby for Lease

    • $19 SF/Yr
      2,474 SF

      Homestead Office Space - 2474 sq ft

      Prime Homestead office, single tenant, fully equipped.
      655 5Th St, Homestead, FL 33030
      View Details
    • $24 SF/Yr
      2,932 SF

      Homestead Commercial Space For Lease

      Prime location, single-tenant office space.
      313-317 Krome Ave, Homestead, FL 33030
      View Details
    • Contact for pricing

      Parkway Parkway Flex Space Available

      Single-tenant flex space, prime location.
      745 Pkwy Pkwy, Homestead, FL 33030
      View Details
    • $4,061 /Mo
      1,034 SF

      Homestead Warehouse - Great Location

      1,034 sq ft Warehouse, Office, Yard
      240 6Th Ave, Homestead, FL 33030
      View Details
    • $14 SF/Yr
      3,498 SF

      Krome Ave Retail Space Available

      High-traffic location, two units available.
      112 Krome Ave, Homestead, FL 33030
      View Details
    • $20 SF/Yr
      16 SF

      New Warehouse Facility in Homestead

      16,153 SF warehouse with office space, completion December 2024.
      146 SW 2Nd St, Homestead, FL 33030
      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.
    3Rd Ave
    Homestead, FL 33030
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.