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Property profile & analytics
OFF-MARKET
Estimated value
$2,660,000
Office buildings
124 1st Rd Homestead, FL 33030-7357
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-1601616
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1974
Construction
CONCRETE
Total area
4,140 SF
Lot
0.17 ac (7,500 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
10-7918-008-0070
UPID
US18-1601616
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Pacesetter Personnel Services Employment Agency
-
Mental Health Network, Inc Medical Clinic
-
Dayron Barzaga Dieguez Physician
-
agencia Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.25M
CAP Approach
CAP
$1.80M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.66M
Owner & transaction history
Joray Properties LLC · 4 yrs held
Joray Properties LLC
since 2021
Last sale
$2.5M
5 recorded transactions
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Homestead, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.6M
+102.7%
Medical building
$1.8M
+41.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Homestead submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Homestead submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,295,000
ML approach
$3,245,000
CAP Approach
CAP Return
Estimation
6%
$1,950,000
6.5%
$1,800,000
7%
$1,670,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,610,000
Change: +103% · Conversion: Difficult
MEDICAL BUILDING
$1,820,000
Change: +41% · Conversion: Easy
Blend value · Realmo final
$2.66M
Range $2.39M – $2.93M · ±10% · vs last sale $2.48M (Aug 24 2021)
Last sale anchor
$2.48M
Aug 24 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$643 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,389
Tax year 2023
Assessed value
$395,843
Assessed 2023
Previous assessed
$399,958
-1.0% YoY
Effective rate
2.12%
On assessed value
Assessed land
$112,500
Assessed improvement
$283,343
Land market value
$112,500
Improvement market value
$283,343
Total market value
$395,843
Applied tax rate
1,000.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1974
Construction
CONCRETE
Heating
NONE
Stories
1
Bathrooms
4
Total area
4,140 SF
Lot
0.17 ac (7,500 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
10-7918-008-0070
UPID
US18-1601616
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Homestead, FL
Zoning 6600:COMMERCIAL,LIBERAL · permitted uses
6600:COMMERCIAL,LIBERAL · Homestead, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Homestead. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$1.8M
AUTO REPAIR, GARAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1974
Construction
CONCRETE
Heating
NONE
Stories
1
Bathrooms
4
Lot
0.17 ac
Current owner
From public records · entity-resolved
Joray Properties LLC
Entity
Mailing address
510 W 28TH ST, HIALEAH, FL 33010-1326
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2021
$2,475,000
Joray Properties LLC
A&g Developers INC
Warranty Deed
$1,500,000 · South State Bank NA
Dec 30, 2003
$20,000
Frank Ford
Elliott,peter
Grant Deed
—
Dec 30, 2003
$301,000
A & G Developers INC
Ford,frank
Grant Deed
—
Apr 2, 2002
$300,000
Frank Ford
Rowe,roba M
Grant Deed
$240,000 · Row-walker Properties INC
—
—
A & G Developers INC
—
Deed Of Trust
related
$150,000 · Ferguson H L & L M Tr (tr)
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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