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

    841 N Krome Ave Homestead, FL 33030

    • Motels
    • 11,976 SF
    • 0.50 lot acres
    For Sale
    View listing
    $4,500,000
    Last Sale
    Mar 17, 2025
    $1,300,000
    Value Estimations
    Cap Rate Potential
    10%
    Motels
    Location Intelligence
    Property ID
    US18-7894497
    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

    • NEXX Motel Homestead / Motel

    Property Details for 841 N Krome Ave

    Year built
    1957
    Lot size
    0.50 lot acres
    Property size
    11,976 SF
    Zone code
    6300:COMMERCIAL,RESTRICT
    Property type
    Motels
    APN
    10-7907-031-0011
    APU
    1079070310011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,080,000
      ML approach
      $925,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,800,000
      6.5%
      $1,665,000
      7%
      $1,545,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $701,000
      Market price range: $273k - $1.84M

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

    Location Insight

    • Map
    • Local Demand
    City
    Homestead
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.477
    Latitude
    25.4777
    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
    $13,593
    $863,080
    $365,530
    $1,228,610
    -
    $863,080
    $365,530
    $1,228,610

    Comparable in this City

    • Value Estimation
      $375,000
      53,899 SF

      990 Homestead Blvd

      MOTEL • 53,899 SF
      990 Homestead Blvd, Homestead, FL 33030-5027
      View Details
    • Value Estimation
      $360,000
      3,956 SF

      846 Krome Ave

      MOTEL • 3,956 SF
      846 Krome Ave, Homestead, FL 33030-4407
      View Details
    • Value Estimation
      $215,000
      6,334 SF

      250 Krome Ave

      MOTEL • 6,334 SF
      250 Krome Ave, Homestead, FL 33030-7202
      View Details
    • Value Estimation
      $375,000
      3,902 SF

      1202 Krome Ave

      MOTEL • 3,902 SF
      1202 Krome Ave, Homestead, FL 33030-4205
      View Details
    • Value Estimation
      $280,000
      6,242 SF

      605 Krome Ave

      MOTEL • 6,242 SF
      605 Krome Ave, Homestead, FL 33030-7209
      View Details
    • Value Estimation
      $5,085,000
      27,050 SF

      1020 Homestead Blvd

      MOTEL • 27,050 SF
      1020 Homestead Blvd, Homestead, FL 33030-5029
      View Details

    Similar Nearby for Sale

    • $4,500,000

      Turnkey Motel in Homestead, Florida

      30-unit motel on Krome Avenue, excellent return on investment.
      841 N Krome Ave, Homestead, FL 33030
      View Details
    • $4,500,000

      Turnkey Motel on Krome Avenue

      Refurbished 30-unit motel in Homestead, excellent return on investment.
      841 N Krome Ave, Homestead, FL 33030
      View Details
    • $1,500,000

      Central Homestead Mixed-Use Building

      Prime location, high-return potential.
      720 6Th Ave, Homestead, FL 33030
      View Details
    • $325,000
      750 SF

      Homestead Convenience Store Investment

      Profitable Retail Space in Florida
      512 6Th Ave, Homestead, FL 33030
      View Details
    • $2,950,000

      Homestead Mixed-Use Commercial Building

      Prime Krome Ave location, high traffic. Excellent condition.
      633 Krome Ave, Homestead, FL 33030
      View Details
    • Contact for pricing

      Leased Office Space Available

      Leased office space with included amenities for sale.
      125 NE 87Th Ave, Homestead, FL 33030
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      1,034 SF

      Homestead Office Space For Sale/Rent

      1,034 sq ft office, 1 parking space.
      240 6Th Ave, Homestead, FL 33030
      View Details
    • Contact for pricing
      7,199 SF

      Homestead Blvd Retail Spaces

      Prime Homestead retail, multiple units available.
      211-287 Homestead Blvd, 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
    • $24 SF/Yr
      2,932 SF

      Homestead Commercial Space For Lease

      Prime location, single-tenant office space.
      313-317 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
    • $25 SF/Yr
      1,409 SF

      Homestead Warehouse: 1409 SF

      Rare Homestead Warehouse for Lease
      238 9Th Ave, Homestead, FL 33030
      View Details
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    841 N Krome Ave
    Homestead, FL 33030
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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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