411 Krome AveHomestead, FL 33034

Property Details for 411 Krome Ave

Year built

1994

Construction

CONCRETE

Lot size

3.49 AC

Property size (Sq ft)

62,650 SF

Zone code

7000:INDUSTRIAL,GENERAL

Property type

Hotels

APN

16-7930-001-0281

APU

1679300010281

Description

This exceptional 114-room hotel, built in 1994, presents a lucrative investment opportunity in Homestead, Florida. Located at 411 S Krome Ave, Florida City, 33034, this 3-star Best Western boasts a prime location, just a short walk from the Florida Keys Outlet and a half-mile from US-1 Hwy. The property features an array of amenities designed to enhance guest experience and maximize revenue potential. These include an outdoor swimming pool, free private parking, a shared lounge, and barbecue facilities. Guest rooms are equipped with modern conveniences such as air conditioning, flat-screen TVs with cable, refrigerators, coffee makers, private bathrooms with hair dryers, and complimentary toiletries. The hotel also offers free WiFi, a 24-hour front desk, an ATM, a business center, and vending machines. A complimentary American breakfast is served daily, adding further value for guests. This well-established hotel is poised for continued success, offering a strong return on investment for the discerning buyer. The property's proximity to major roadways and popular attractions makes it an ideal choice for both leisure and business travelers. With its established reputation and comprehensive amenities, this hotel represents a compelling investment opportunity in a thriving South Florida market. The property is situated in Miami-Dade County and benefits from the high volume of tourism in the Florida Keys region.

• CAP approach

  CAP return

  Valuation

  6%

  $51,911,020

  6.5%

  $47,917,864

  7%

  $44,495,160

• Comparable approach

  Method

  Valuation

  Relative Method

  $48,535,276

  Geo Method

  $48,535,276

• Alternative Use

  Use

  Valuation

  Residential

  $52,312,388

  Hospitality

  $47,917,864

  Educational

  $39,867,100

  Medical

  $41,238,192

  Retail

  $62,015,492

Location Insight

City

Florida City

County

Miami-dade

State

Florida

Latitude

25.4429

Longitude

-80.4764

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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