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

    605 Krome Ave Homestead, FL 33030-6043

    • Drive through restaurants
    • 2,387 SF
    • 0.47 lot acres
    OFF-MARKET
    Last Sale
    Oct 12, 2021
    $3,125,000
    Value Estimations
    $3,305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4105235
    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

    • Everglades Motel / Hotel & Motel
    • Popeyes Louisiana Kitchen / Restaurant
    • POPEYE'S. CS / Restaurant

    Property Details for 605 Krome Ave

    Year built
    2018
    Lot size
    0.47 lot acres
    Property size
    2,387 SF
    Zone code
    6300:COMMERCIAL,RESTRICT
    Property type
    Drive through restaurants
    APN
    10-7918-006-0360
    APU
    1079180060360

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,600,000
      ML approach
      $3,555,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,118,000
      Market price range: $882k - $3.12M

    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
    25.4756
    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
    $24,605
    $823,120
    $405,591
    $1,228,711
    -
    $823,120
    $405,591
    $1,228,711

    Comparable in this City

    • Value Estimation
      $685,000
      3,729 SF

      985 Homestead Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,729 SF
      985 Homestead Blvd, Homestead, FL 33030-5026
      View Details
    • Value Estimation by Request
      1,638 SF

      702 Krome Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,638 SF
      702 Krome Ave, Homestead, FL 33030-6045
      View Details
    • Value Estimation by Request
      1,188 SF

      147 8th St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,188 SF
      147 8th St, Homestead, FL 33030-4607
      View Details
    • Value Estimation by Request
      1,780 SF

      987 Homestead Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,780 SF
      987 Homestead Blvd, Homestead, FL 33030-5026
      View Details
    • Value Estimation by Request
      1,613 SF

      331 Park Pl

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,613 SF
      331 Park Pl, Homestead, FL 33030-6022
      View Details
    • Value Estimation
      $535,000
      2,671 SF

      815 Krome Ave

      RESTAURANT • 2,671 SF
      815 Krome Ave, Homestead, FL 33030-4406
      View Details

    Similar Nearby for Sale

    • $1,000,000

      Restaurant, Bakery, Event Venue For Sale

      Multi-use restaurant, bakery, event, and live music venue for sale.
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      Established Japanese Restaurant For Sale

      Long-standing Japanese restaurant with loyal clientele and growth potential.
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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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    • $650,000
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      Prime Homestead location, two combined lots, high potential.
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    Similar Nearby for Lease

    • $45 SF/Yr
      3,500 SF

      Homestead Retail and Restaurant Spaces

      New construction retail and restaurant spaces in growing Homestead area.
      1400-1440 NE 8Th St, 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
    • 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
    • $4,305 /Mo

      Retail Space on Krome Avenue

      Commercial space for rent, ideal for retail, office, or showroom.
      112 N Krome Ave, Homestead, FL 33030
      View Details
    • Contact for pricing
      65,000 SF

      Homestead Retail Space For Sale

      Prime Retail Location, Multiple Units Available
      4 Krome Ave, Homestead, FL 33030
      View Details
    • $4 SF/Yr
      6,228 SF

      Homestead Retail Space For Lease

      Prime Homestead location, 6,228 sq ft retail space.
      313 Krome Ave, Homestead, FL 33030
      View Details
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    605 Krome Ave
    Homestead, FL 33030-6043
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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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