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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    29345 SW 152Nd Ave, Unit | Homestead Homestead, FL 33033

    • Outlet malls
    • 6,279 SF
    • 0.53 lot acres
    For Sale
    View listing
    $5,600,000
    Last Sale
    Dec 20, 2023
    $3,450,000
    Value Estimations
    Cap Rate Potential
    3.7%
    Outlet malls
    Location Intelligence
    Property ID
    US18-5485457
    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

    • Simple mobile / Mobile Phone Store / Electronics & Wireless Store
    • 1 Stop Party & Events Rental and Decor / Party Supply Store / Rental Equipment Company
    • Crazy Unlock Cell Phones & Repair / Computer & Electronic Repair / Tech Support Center
    • Celebrity 💇🏽‍♂️Kutz/ Recording Studio / Barber Shop

    Property Details for 29345 SW 152Nd Ave

    Year built
    1954
    Construction
    CONCRETE
    Lot size
    0.53 lot acres
    Property size
    6,279 SF
    Zone code
    6200:COMMERCIAL,ARTERIAL
    Property type
    Outlet malls
    APN
    30-7904-005-3330
    APU
    3079040053330

    Description

    This exceptional retail property, located at 29345 SW 152nd Ave in Homestead, Florida, presents a unique leasing opportunity. The property, encompassing a total of 17,061 square feet, currently has 2,000 square feet of vacant space available for lease. Situated in Miami-Dade County, zip code 33033, this single-tenant retail space benefits from its prime location within a rapidly growing area of Homestead. The property is undergoing significant renovations under new ownership, representing a substantial capital expenditure investment. These improvements encompass a complete exterior façade upgrade, roof replacement, enhanced lighting, installation of uniform signage, and a comprehensive parking lot refurbishment. This revitalization effort ensures a modern and attractive retail space, ready for immediate occupancy. The property's size and location make it ideal for a variety of retail businesses seeking to establish or expand their presence in this thriving market. The 2,000 square feet of vacant space offers flexibility for customization to meet specific tenant needs. This is a rare opportunity to secure a well-located, newly renovated retail space in a dynamic and expanding area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,885,000
      ML approach
      $3,025,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $4,690,000
      AUTO REPAIR, GARAGE
      $3,960,000
      MEDICAL BUILDING
      $2,760,000
      COMMERCIAL (GENERAL)
      $2,100,000
      OFFICE BUILDING
      $1,925,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Homestead
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.4363
    Latitude
    25.4944
    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
    $10,825
    $461,120
    $282,335
    $743,455
    -
    $461,120
    $282,335
    $743,455

    Comparable in this City

    • Value Estimation
      $2,835,000
      22,310 SF

      1801 8th St

      WHOLESALE OUTLET, DISCOUNT STORE • 22,310 SF
      1801 8th St, Homestead, FL 33033-4705
      View Details
    • Value Estimation
      $17,615,000
      51,575 SF

      3338 7th St

      WHOLESALE OUTLET, DISCOUNT STORE • 51,575 SF
      3338 7th St, Homestead, FL 33033-6066
      View Details
    • Value Estimation
      $20,200,000
      177,485 SF

      1850 8th St

      WHOLESALE OUTLET, DISCOUNT STORE • 177,485 SF
      1850 8th St, Homestead, FL 33033-4711
      View Details
    • Value Estimation
      $3,820,000
      21,927 SF

      1982 8th St

      WHOLESALE OUTLET, DISCOUNT STORE • 21,927 SF
      1982 8th St, Homestead, FL 33033-4704
      View Details
    • Value Estimation
      $600,000
      4,444 SF

      1532 8th St

      WHOLESALE OUTLET, DISCOUNT STORE • 4,444 SF
      1532 8th St, Homestead, FL 33033-4615
      View Details
    • Value Estimation
      $1,675,000
      11,165 SF

      28740 Dixie Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 11,165 SF
      28740 Dixie Hwy, Homestead, FL 33033-1233
      View Details

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    Similar Nearby for Lease

    • Contact for pricing

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    • $24 SF/Yr
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    • Contact for pricing
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      View Details
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    Homestead, FL 33033
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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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