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

    523 Krome Ave Homestead, FL 33030-6050

    • Retail residential properties
    • 5,500 SF
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    $1,090,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4625303
    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

    • Cuttin Loose Salon / Hair Salon
    • Behind The Steel Shear / Hair Salon
    • Tax Debt Relief / Tax Preparation

    Property Details for 523 Krome Ave

    Year built
    1925
    Construction
    CONCRETE
    Lot size
    0.15 lot acres
    Property size
    5,500 SF
    Zone code
    6300:COMMERCIAL,RESTRICT
    Property type
    Retail residential properties
    APN
    10-7918-006-0340
    APU
    1079180060340

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,580,000
      6.5%
      $1,460,000
      7%
      $1,355,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $853,000
      Market price range: $489k - $1.57M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,710,000
      NEIGHBORHOOD: SHOPPING CENTER
      $1,580,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Homestead
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.4771
    Latitude
    25.4749
    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
    $13,712
    $270,000
    $694,000
    $964,000
    -
    $270,000
    $694,000
    $964,000

    Comparable in this City

    • Value Estimation
      $2,590,000
      13,768 SF

      131 Flagler Ave

      STORES & APARTMENTS • 13,768 SF
      131 Flagler Ave, Homestead, FL 33030
      View Details
    • Value Estimation
      $620,000
      2,932 SF

      317 Krome Ave

      STORES & APARTMENTS • 2,932 SF
      317 Krome Ave, Homestead, FL 33030-6057
      View Details
    • Value Estimation
      $650,000
      2,190 SF

      28200 182nd Ave

      STORES & APARTMENTS • 2,190 SF
      28200 182nd Ave, Homestead, FL 33030-1806
      View Details
    • Value Estimation by Request
      500 SF

      77 17th St

      STORES & APARTMENTS • 500 SF
      77 17th St, Homestead, FL 33030
      View Details
    • Value Estimation by Request
      3,200 SF

      51 Flagler Ave

      STORES & APARTMENTS • 3,200 SF
      51 Flagler Ave, Homestead, FL 33030-6126
      View Details
    • Value Estimation by Request
      788 SF

      1390 3rd Ter

      STORES & APARTMENTS • 788 SF
      1390 3rd Ter, Homestead, FL 33030-4828
      View Details

    Similar Nearby for Sale

    • $2,950,000

      Homestead Mixed-Use Commercial Building

      Prime Krome Ave location, high traffic. Excellent condition.
      633 Krome Ave, Homestead, FL 33030
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    • $1,500,000

      Central Homestead Mixed-Use Building

      Prime location, high-return potential.
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    • $2,950,000
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      Homestead Mixed-Use Commercial Building

      Prime Krome Ave location, high traffic, great visibility.
      633 Krome Ave, Homestead, FL 33030
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    • $62,500
      0.07 Acres

      Homestead Land: Development Opportunity

      Two adjacent lots totaling 6,175 SF in a rapidly growing area.
      420 SW 6Th St, Homestead, FL 33030
      View Details
    • $395,000
      2,474 SF

      Homestead Church - Prime Location

      2,474 SF Church, $395,000
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    • $6,000,000
      2.00 Acres

      Homestead Retail Outparcels

      Two prime acres near major retailers.
      0 328Th St, Homestead, FL 33030
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    Similar Nearby for Lease

    • $4,061 /Mo
      1,034 SF

      Homestead Warehouse - Great Location

      1,034 sq ft Warehouse, Office, Yard
      240 6Th Ave, Homestead, FL 33030
      View Details
    • $14 SF/Yr
      3,498 SF

      Krome Ave Retail Space Available

      High-traffic location, two units available.
      112 Krome Ave, Homestead, FL 33030
      View Details
    • $19 SF/Yr
      2,474 SF

      Homestead Office Space - 2474 sq ft

      Prime Homestead office, single tenant, fully equipped.
      655 5Th St, Homestead, FL 33030
      View Details
    • $20 SF/Yr
      16 SF

      New Warehouse Facility in Homestead

      16,153 SF warehouse with office space, completion December 2024.
      146 SW 2Nd St, Homestead, FL 33030
      View Details
    • Contact for pricing
      2,226 SF

      Homestead Retail Space Available

      Retail space for lease in Homestead Towne Square.
      903 N Homestead Blvd, Homestead, FL 33030
      View Details
    • $1,500 /Mo

      Renovated One-Bedroom Apartment For Rent

      Updated one-bedroom apartment with included utilities in convenient location.
      17 NE 2Nd Rd, Homestead, FL 33030
      View Details
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    523 Krome Ave
    Homestead, FL 33030-6050
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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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