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    450 Washington Ave Homestead, FL 33030-6036
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    Property profile & analytics

    450 Washington Ave, Homestead, FL 33030-6036

    View on Map
    • Office buildings
    • 2,004 SF
    • 0.15 lot acres
    Off-Market
    Last Sale Sep 14, 2021
    $480,000
    Property ID
    US18-5873259
    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
    $550,000
    Show details
    Cap Rate Potential
    8.4%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Brilliant Kids Preschool / High School / Daycare Center

    Property Details for 450 Washington Ave

    Year built
    1982
    Construction
    CONCRETE
    Lot size
    0.15 lot acres
    Zone code
    6300:COMMERCIAL,RESTRICT
    Property type
    Office buildings
    APN
    10-7918-003-0390
    APU
    1079180030390

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 14, 2021 $480,000 Brilliant Kids Preschools LLC Little Learners Preschool Academy C Warranty Deed —
    Jul 22, 2019 — Little Learners Preschool Acad — Deed · related $250k · Branch Bk&tr
    Feb 23, 2019 $322,500 Little Learners Preschool Academy C Avant Educational Services INC Warranty Deed $250k · Best Rate Mortgage Corporation
    Feb 23, 2019 $100 Little Sch 4 Little People INC Ravenell,donald & Julie B Correction Deed · related —
    Dec 24, 2008 — Little Sch 4 Little People INC Ravenell,donald & Julie B Quit Claim Deed · related —
    Mar 8, 2005 $315,000 Donald Ravenell Burkhead,patrick Warranty Deed $284k · Patrick Burkhead
    Jul 3, 2003 $129,000 Burkhead,patrick La Julondel Corp Grant Deed —
    May 16, 1997 $160,000 La Julondel Corp Sommer,harvey D Grant Deed $102k · Homestead Revolving Lo
    — — Little Learners Preschool Acad — Deed Of Trust · related $250k · Branch Bk&tr
    — — Donald Ravenell — Deed Of Trust · related $22k · Patrick Burkhead

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $670,000
      ML approach
      $600,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $521,000
      Market price range: $300k - $837k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $625,000
      Current use
      MEDICAL BUILDING
      $880,000
      Change: +41% Conversion: Easy
      COMMERCIAL (GENERAL)
      $670,000
      Change: +7% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $575,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Homestead
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.4767
    Latitude
    25.4744
    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
    $0.00
    $166,250
    $151,144
    $317,394
    -
    $166,250
    $151,144
    $317,394

    Comparable in this City

    • Value Estimation
      $3,125,000
      8,429 SF

      1005 Krome Ave

      OFFICE BUILDING
      1005 Krome Ave, Homestead, FL 33030-4462
      View Details
    • Value Estimation
      $600,000
      3,289 SF

      151 11th St Ste E202

      PROFESSIONAL BUILDING
      151 11th St Ste E202, Homestead, FL 33030-4350
      View Details
    • Value Estimation by Request
      1,080 SF

      125 8th St Ste, Unit 2

      PROFESSIONAL BUILDING
      125 8th St Ste, Homestead, FL 33030-4676
      View Details
    • Value Estimation by Request
      1,050 SF

      125 8th St Ste, Unit 3

      PROFESSIONAL BUILDING
      125 8th St Ste, Homestead, FL 33030-4676
      View Details
    • Value Estimation
      $1,170,000
      3,920 SF

      10 18th St

      PROFESSIONAL BUILDING
      10 18th St, Homestead, FL 33030-4519
      View Details
    • Value Estimation by Request
      1,220 SF

      30 15th St

      PROFESSIONAL BUILDING
      30 15th St, Homestead, FL 33030-4262
      View Details

    Similar Nearby for Sale

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    • Contact for pricing
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      Commercial Building on Krome Avenue

      Two-story commercial building in Homestead with high-traffic frontage.
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      Turnkey renovated building with office and medical space, remodeled interiors, upgraded systems, and ample parking for professional users.
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      Commercial Building on Krome Avenue

      Two-story commercial building with high visibility in Homestead, Florida.
      633 N Krome Ave, Homestead, FL 33030
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    Similar Nearby for Lease

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      11,720 SF

      Downtown Homestead Office Space Available

      Office spaces for rent in downtown Homestead, Florida.
      377-381 N Krome Ave, Homestead, FL 33030
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    • $19 SF/Yr
      2,474 SF

      Homestead Office Space - 2474 sq ft

      Prime Homestead office, single tenant, fully equipped.
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    • $4,305 /Mo
      12,502 SF

      Prime Commercial Space on Krome

      Bustling Krome Ave, ideal for retail, office, or showroom.
      112 N Krome Ave, Homestead, FL 33030
      View Details
    • $36 SF/Yr
      1,150 SF

      Prime Office Space, NW 14th St

      1,150 sq ft Office, 4 Parking Spaces
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      Ready Live-Work Space For Rent

      Ready for immediate occupancy as office or apartment in Homestead.
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    • Contact for pricing

      Homestead Office Space For Rent

      Versatile 600 sqft office space in a prime location.
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    Homestead, FL 33030-6036
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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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