This exceptional mixed-use property in Downtown Homestead, Florida, offers 6,228 square feet across two parcels totaling 9,160 square feet. Located on N Krome Ave, it benefits from high visibility and accessibility, attracting both pedestrian and vehicular traffic. The property's Class C designation reflects its potential for renovation and value enhancement. Its strategic location places it within easy reach of key amenities, including Losnor Park, the Seminole Theatre, Homestead Police Headquarters, Homestead Town Hall, and the new Homestead Station Shopping Mall, which features major retailers, dining, and entertainment options such as ShowBiz Cinemas, a bowling alley, and a cybrarium, along with a seven-level public parking garage. The property is also conveniently situated just 1.5 miles from US-1 and the Florida Turnpike on and off-ramps, ensuring excellent connectivity. On-street parking and parking behind the units are available. The asking price is $1,850,000, translating to $297.05 per square foot. The 0.31-acre lot (APN: 10-7918-006-0200, 10-7918-006-0210) presents a compelling investment opportunity in a rapidly developing area. The property's mixed-use zoning allows for a variety of commercial and potentially residential uses, making it an attractive prospect for both investors and entrepreneurs seeking a foothold in this thriving downtown district.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$2,644,993
6.5%
$2,441,532
7%
$2,267,137
Comparable approach
Method
Valuation
Relative Method
$1,494,542
Geo Method
$1,494,542
Alternative Use
Use
Valuation
Residential
$2,441,532
Hospitality
$2,236,430
Educational
$1,860,684
Medical
$1,924,676
Retail
$2,894,397
Location Insight
City
Homestead
County
Miami-dade
State
Florida
Latitude
25.473
Longitude
-80.4771
CBSA code
33100
CBSA name
MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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