280 St Krome AvePrinceton, FL 33032

Property Details for 280 St Krome Ave

Lot size

6.56 AC

Property type

Land

Property subtype

Farms

Description

This exceptional property offers a unique investment opportunity in Homestead, Florida. Located on Krome Avenue at SW 280th Street, this expansive land parcel comprises two tracts totaling 15.4+ acres, with individual parcels measuring 6.56 acres and 8.84 acres. Currently zoned AU (Agriculture) and EU-1 (Estates 1 acre), the land is ideal for a variety of uses, including continued agricultural operations or potential redevelopment. The property boasts a prime location, directly fronting Krome Avenue, and benefits from existing well water. Currently utilized for farming and crop production, the property presents significant upside potential for rental increases or future development. A one-year lease is available, expiring May 1, 2025, with a pro-forma NOI of $181,122. The lease rate is currently $0.27 per square foot, totaling 670,606 square feet. The land value ranges from $133,116 to $350,000 per acre, depending on the parcel size. The property's strategic location near numerous housing developments featuring homes valued over $600,000 further enhances its investment appeal. Parcel numbers are 30-6836-000-0550 & 30-6836-000-0551. Lease terms are negotiable.

Location Insight

City

Princeton

County

Miami-Dade

State

Florida

Latitude

25.5067

Longitude

-80.4777

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