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    411 Krome Ave Florida City, FL 33034-4913
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    Property profile & analytics

    411 Krome Ave, Florida City, FL 33034-4913

    View on Map
    • Hotels
    • 62,650 SF
    • 3.49 lot acres
    Off-Market
    Property ID
    US18-8687508
    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.
    Value Estimations
    $5,470,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hotels

    Property Details for 411 Krome Ave

    Year built
    1994
    Construction
    CONCRETE
    Lot size
    3.49 lot acres
    Zone code
    7000:INDUSTRIAL,GENERAL
    Property type
    Hotels
    APN
    16-7930-001-0281
    APU
    1679300010281

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 29, 2016 — Hotel Two LLC — Deed · related $3.7M · Stonegate Bk
    Dec 6, 2016 — Hotel Two LLC — Deed · related $8.6M · Stonegate Bk
    Jan 6, 2013 $5,000,000 Hotel Two LLC Hotel One INC Warranty Deed $2.5M · Community Bk/fl
    Dec 20, 2001 — Rosario Strano Hotel One INC Grant Deed · related —
    — — Hotel Two LLC — Deed Of Trust · related $2.5M · Community Bank Of Florida
    — — Hotel Two LLC — Deed Of Trust · related $1.5M · Gulfcoast Business Finance INC
    — — Hotel Two LLC — Loan Modification · related $3.7M · Stonegate Bk
    — — Hotel Two LLC — Deed Of Trust · related $8.6M · Stonegate Bk

    Description

    This exceptional 114-room hotel, built in 1994, presents a lucrative investment opportunity in Homestead, Florida. Located at 411 S Krome Ave, Florida City, 33034, this 3-star Best Western boasts a prime location, just a short walk from the Florida Keys Outlet and a half-mile from US-1 Hwy. The property features an array of amenities designed to enhance guest experience and maximize revenue potential. These include an outdoor swimming pool, free private parking, a shared lounge, and barbecue facilities. Guest rooms are equipped with modern conveniences such as air conditioning, flat-screen TVs with cable, refrigerators, coffee makers, private bathrooms with hair dryers, and complimentary toiletries. The hotel also offers free WiFi, a 24-hour front desk, an ATM, a business center, and vending machines. A complimentary American breakfast is served daily, adding further value for guests. This well-established hotel is poised for continued success, offering a strong return on investment for the discerning buyer. The property's proximity to major roadways and popular attractions makes it an ideal choice for both leisure and business travelers. With its established reputation and comprehensive amenities, this hotel represents a compelling investment opportunity in a thriving South Florida market. The property is situated in Miami-Dade County and benefits from the high volume of tourism in the Florida Keys region.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Florida City
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.4764
    Latitude
    25.4429
    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
    $103,460
    $2,434,320
    $2,765,680
    $5,200,000
    -
    $2,434,320
    $2,765,680
    $5,200,000

    Comparable in this City

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      61,174 SF

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    • Value Estimation
      $15,625,000
      84,305 SF

      60 352nd St

      HOTEL
      60 352nd St, Florida City, FL 33034-4894
      View Details
    • Value Estimation
      $4,030,000
      41,464 SF

      217 Krome Ave

      HOTEL
      217 Krome Ave, Florida City, FL 33034-3411
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    • Value Estimation
      $4,785,000
      51,636 SF

      35200 Dixie Hwy

      HOTEL
      35200 Dixie Hwy, Florida City, FL 33034-5604
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    • Value Estimation
      $5,610,000
      60,260 SF

      77 3rd St

      HOTEL
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      View Details
    • Value Estimation by Request
      1,830 SF

      100 1st Ave

      MOTEL
      100 1st Ave, Florida City, FL 33034-5004
      View Details

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    Florida City, FL 33034-4913
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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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