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    Property profile & analytics

    19398 SW 248Th St Homestead, FL 33031

    • Warehouses
    • 1,830 SF
    • 4.13 lot acres
    For Sale
    View listing
    $2,200,000
    Last Sale
    Apr 01, 2021
    $575,000
    Value Estimations
    Cap Rate Potential
    3.3%
    Warehouses
    Location Intelligence
    Property ID
    US18-1631948
    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

    • Warehouses

    Property Details for 19398 SW 248Th St

    Year built
    1988
    Construction
    STEEL FRAME
    Lot size
    4.13 lot acres
    Property size
    1,830 SF
    Zone code
    9000:AGRICULTURE
    Property type
    Warehouses
    APN
    30-6826-000-0210
    APU
    3068260000210

    Description

    This exceptional Homestead, Florida business opportunity presents a rare chance to acquire a thriving fish farm situated on a substantial parcel of land. The property, located at 19398 SW 248th St, encompasses 1,830 square feet of building space. The significant land value represents over half the total $2,200,000 asking price, offering considerable potential for future development beyond the existing aquaculture operations. The current business includes a substantial inventory of fish, independently valued at approximately $300,000, contributing significantly to the overall profitability. This established operation provides immediate income potential, while the expansive grounds allow for expansion of existing operations or exploration of alternative uses. The property's location in Homestead offers access to key transportation routes and a supportive environment for agricultural businesses. This unique combination of a profitable, established business and significant land value makes this a truly exceptional investment opportunity in the burgeoning aquaculture industry. Serious inquiries only. Financial statements and further details are available upon request. This is a turnkey operation ready for a new owner to step in and continue the success.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $720,000
      ML approach
      $820,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $612,000
      Market price range: $237k - $613k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,155,000
      MEDICAL BUILDING
      $805,000
      COMMERCIAL (GENERAL)
      $610,000
      OFFICE BUILDING
      $560,000
      NEIGHBORHOOD: SHOPPING CENTER
      $525,000
      RETAIL STORES
      $465,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Homestead
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.5059
    Latitude
    25.5346
    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
    $8,214
    $454,300
    $77,078
    $531,378
    -
    $454,300
    $77,078
    $531,378

    Comparable in this City

    • Value Estimation
      $785,000
      4,042 SF

      18380 256th St

      WAREHOUSE, STORAGE • 4,042 SF
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    • Value Estimation
      $315,000
      720 SF

      20300 264th St

      WAREHOUSE, STORAGE • 720 SF
      20300 264th St, Homestead, FL 33031
      View Details
    • Value Estimation
      $470,000
      2,332 SF

      25151 162nd Ave

      WAREHOUSE, STORAGE • 2,332 SF
      25151 162nd Ave, Homestead, FL 33031-1332
      View Details
    • Value Estimation
      $505,000
      3,608 SF

      23799 167th Ave

      WAREHOUSE, STORAGE • 3,608 SF
      23799 167th Ave, Homestead, FL 33031
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    • Value Estimation
      $535,000
      11,272 SF

      26200 183rd Ct

      WAREHOUSE, STORAGE • 11,272 SF
      26200 183rd Ct, Homestead, FL 33031
      View Details
    • Value Estimation
      $1,805,000
      9,500 SF

      16701 256th St

      WAREHOUSE, STORAGE • 9,500 SF
      16701 256th St, Homestead, FL 33031-1912
      View Details

    Similar Nearby for Sale

    • $2,200,000

      Homestead Fish Farm Investment

      Prime Aquaculture Business, High Value Land
      19398 248Th St, Homestead, FL 33031
      View Details
    • Contact for pricing

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      Profitable Nursery, 653,400 sq ft
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    • $950,000
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      Homestead Agricultural Land For Sale

      5-acre agricultural land parcel in Homestead, Florida.
      16890 SW 267 Te, Homestead, FL 33031
      View Details
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    19398 SW 248Th St
    Homestead, FL 33031
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    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
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