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    401 Palm Dr Homestead, FL 33034

    • Outlet malls
    • 2,569 SF
    • 0.60 lot acres
    For Sale
    View listing
    $1,400,000
    Value Estimation
    Last Sale
    Jan 07, 2022
    $675,000
    Location Intelligence
    Property ID
    US19-0497304
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Outlet malls

    Property Details for 401 Palm Dr

    Year built
    1949
    Construction
    CONCRETE
    Lot size
    0.60 lot acres
    Property size
    2,569 SF
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Outlet malls
    APN
    16-7824-007-2450
    APU
    1678240072450

    Description

    This Homestead, Florida retail center offers a compelling investment opportunity. The 2,569 square foot property, situated on a 26,250 square foot lot, comprises six fully occupied units in a single-story building. Built in 1949 and renovated in 2015, the property boasts a 3.75% cap rate and a strong net operating income (NOI) of $52,540. The C-1 zoning allows for diverse uses, including daycare, shopping center, and storefront options. With 16 parking spaces and 100% occupancy, this stabilized investment presents a solid return. The property's strategic location across from Florida City Hall on Palm Drive in Miami-Dade County, Florida (zip code 33034) adds significant value. The $1,400,000 asking price translates to $544.96 per square foot and $53 per square foot for the land. This presents a chance to capitalize on current income while exploring future redevelopment potential. The gross lease structure simplifies management, and the multi-tenant setup provides diversification.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $585,000

    • CAP approach

      CAP return
      Estimation
      6%
      $745,000
      6.5%
      $705,000
      7%
      $740,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $660,000
      Geo Method
      $580,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $800,000
      Retail
      $770,000
      Mixed-Use
      $820,000
      Hospitality
      $810,000
      Educational
      $795,000
      Residential Income
      $735,000
      Energy
      $610,000
      Income-Based Land
      $745,000
      Food Service
      $830,000

    Location Insight

    • Map
    • Local Demand
    City
    Florida City
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.4824
    Latitude
    25.4475
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $15,461
    $577,500
    $137,487
    $714,987
    -
    $577,500
    $137,487
    $714,987

    Comparable in this City

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    • Value Estimation by Request
      24,339 SF

      453 Krome Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 24,339 SF
      453 Krome Ave, Florida City, FL 33034-3404
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      $215,000
      1,512 SF

      825 Lucy St

      WHOLESALE OUTLET, DISCOUNT STORE • 1,512 SF
      825 Lucy St, Florida City, FL 33034-1846
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    • Value Estimation by Request
      29,982 SF

      33550 Dixie Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 29,982 SF
      33550 Dixie Hwy, Florida City, FL 33034-5602
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    • Value Estimation by Request
      30,596 SF

      33590 Dixie Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 30,596 SF
      33590 Dixie Hwy, Florida City, FL 33034-5620
      View Details
    • Value Estimation by Request
      10,098 SF

      33521 Dixie Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 10,098 SF
      33521 Dixie Hwy, Florida City, FL 33034-5614
      View Details

    Similar Nearby for Sale

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      Palm Drive Retail Center

      Homestead, FL retail investment
      401 Palm Dr, Homestead, FL 33034
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    • $1,750,000
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    • Contact for pricing

      Retail Space on Krome Avenue

      Retail space available for lease in Florida City, Florida.
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      Homestead Retail Land - 3.22 Acres

      Prime retail development site in Homestead, FL
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    Similar Nearby for Lease

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      Retail Space in Florida City

      Retail space available within a shopping center with national tenants.
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    • $1.86 SF/Yr
      9,667 SF

      Homestead Retail Space for Lease

      Prime Homestead location, 9,667 sq ft retail space.
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    • $1,500 /Mo

      Retail Space in High-Traffic Area

      Sub-rent space in busy salon, ideal for beauty-related services.
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    • $0.07 SF/Yr
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    • $16 SF/Yr
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      Downtown Homestead Retail Space Available

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    401 Palm Dr
    Homestead, FL 33034
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    Realmo Value Estimation

    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.

    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.

    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
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