633 Krome AveHomestead, FL 33030

Property Details for 633 Krome Ave

Year built

1949

Construction

CONCRETE

Lot size

0.31 AC

Property size (Sq ft)

3,304 SF

Zone code

6300:COMMERCIAL,RESTRICT

Property type

Office properties

Property subtype

Office buildings

APN

10-7918-006-0363

APU

1079180060363

Description

This exceptional 3,304 square foot mixed-use commercial building is strategically located on Krome Avenue in Homestead, Florida, boasting 150 feet of frontage. The property sits on a 0.38-acre lot and is zoned B-1 Commercial, ensuring diverse usage potential. Currently in excellent condition, the building features a new roof and new impact windows, providing both durability and security. The interior layout is well-designed for optimal functionality, including reception areas, multiple suites on both the first and second floors, ten or more individual offices, three bathrooms, spacious conference rooms, and a kitchen. Adjacent to a Popeyes restaurant, this property benefits from high visibility and significant traffic counts on Krome Avenue, a key thoroughfare. Included in the sale is a second folio (10-7918-006-0370) encompassing private parking for the building. The property is situated in a rapidly developing area of Homestead, benefiting from an ongoing revitalization project. Current tenants are on month-to-month leases, offering flexibility for the new owner. This presents a unique opportunity to acquire a well-maintained, high-traffic commercial property in a burgeoning market. The asking price is $2,950,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,402,977

  6.5%

  $2,218,132

  7%

  $2,059,694

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,086,269

  Geo Method

  $1,086,269

• Alternative Use

  Use

  Valuation

  Residential

  $2,750,484

  Hospitality

  $2,519,429

  Educational

  $2,096,135

  Medical

  $2,168,224

  Retail

  $3,260,655

Location Insight

City

Homestead

County

Miami-dade

State

Florida

Latitude

25.476

Longitude

-80.4771

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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