317 Krome AveHomestead, FL 33030

Property Details for 317 Krome Ave

Year built

1939

Construction

CONCRETE

Lot size

0.14 AC

Property size (Sq ft)

2,932 SF

Zone code

6300:COMMERCIAL,RESTRICT

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

10-7918-006-0210

APU

1079180060210

Description

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.

• 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

Property Tax & Assessments

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