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Property profile & analytics
OFF-MARKET
Estimated value
$5,100,000
Schools
240 Krome Ave Homestead, FL 33030-6019
Entity Owned
7-yr Hold
Free & Clear
Property ID
US18-1526677
Property profile
Verified
Property type
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Year built
1948
Construction
CONCRETE
Total area
10,749 SF
Lot
0.82 ac (35,542 SF)
Zoning code
6500:COMMERCIAL,CLASSIF
APN
10-7813-016-0050
UPID
US18-1526677
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
-
Artsouth Art Gallery
-
Designs by Darenda (Bike/Boat/Book/etc) Store Florist
-
Atala Montessori School for Creative Expression High School Daycare Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.34M
Blend (final)
Blend
$5.10M
Owner & transaction history
Creative Expression LLC · 7 yrs held
Creative Expression LLC
since 2018
Last sale
$5.1M
7 recorded transactions
Zoning & alternative use
6500:COMMERCIAL,CLASSIF · Homestead, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.0M
+101.8%
Auto repair, garage
$6.8M
+70.5%
Medical building
$4.7M
+18.7%
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
$5,100,000
ML approach
$5,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$3,980,000
Current use
RESTAURANT
$8,025,000
Change: +102% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,780,000
Change: +70% · Conversion: Difficult
MEDICAL BUILDING
$4,720,000
Change: +19% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,595,000
Change: -10% · Conversion: Difficult
OFFICE BUILDING
$3,345,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$5.10M
Range $4.59M – $5.61M · ±10% · vs last sale $5.10M (Oct 25 2024)
Last sale anchor
$5.10M
Oct 25 2024
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
$474 / 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
Assessed value
$2,048,987
Assessed 2023
Previous assessed
$2,049,347
0.0% YoY
Assessed land
$888,550
Assessed improvement
$1,160,437
Land market value
$888,550
Improvement market value
$1,160,437
Total market value
$2,048,987
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
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Status
Off-Market
Year built
1948
Construction
CONCRETE
Heating
NONE
Buildings
2
Stories
3
Total area
10,749 SF
Lot
0.82 ac (35,542 SF)
Zoning code
6500:COMMERCIAL,CLASSIF
APN
10-7813-016-0050
UPID
US18-1526677
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6500:COMMERCIAL,CLASSIF · Homestead, FL
Zoning 6500:COMMERCIAL,CLASSIF · permitted uses
6500:COMMERCIAL,CLASSIF · 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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$4.0M
RESTAURANT
Est. value
$8.0M
AUTO REPAIR, GARAGE
Est. value
$6.8M
MEDICAL BUILDING
Est. value
$4.7M
COMMERCIAL (GENERAL)
Est. value
$3.6M
OFFICE BUILDING
Est. value
$3.3M
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE 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
1948
Construction
CONCRETE
Heating
NONE
Stories
3
Buildings
2
Lot
0.82 ac
Current owner
From public records · entity-resolved
Creative Expression LLC
Entity
Free & Clear · 7 yrs held
Mailing address
240 N KROME AVE, HOMESTEAD, FL 33030-6019
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 7, 2018
$1,900,000
Creative Expression LLC
Homestead 240 LLC
Grant Deed
—
Nov 7, 2018
—
Atala Montessori Sch For Creat
—
Trustees Deed
related
$888,000 · Bankunited Fsb
Jun 27, 2016
$100,100
Homestead 240 LLC
Atala Montessori Sch Of C Coc
Trustees Deed
related
—
Nov 13, 2015
—
Dade Medical College INC
—
Grant Deed
related
$4,784,293 · Us Century Bk
Jan 3, 2014
$1,566,000
Dade Medical College INC
Florida Education Center Of Homes
Warranty Deed
—
Sep 18, 2013
—
Florida Education Center Of Homes
Southern Arts Associates LLC
Warranty Deed
related
$1,575,000 · Historic Homestead Holdings Lt
Jul 11, 2002
$10,000
Green Stone LLC
Sanctuary Associates LLC
Quit Claim Deed
related
—
Jun 9, 2000
$550,000
Southern Arts Associates LLC
First Baptist Church Homestead
Trustees Deed
—
Jun 9, 2000
$167,500
Sanctuary Associates LLC
Sullivan,fay A
Trustees Deed
—
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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