815 Krome AveFlorida City, FL 33034

Property Details for 815 Krome Ave

Year built

1988

Construction

CONCRETE

Lot size

1.08 AC

Property size (Sq ft)

20,907 SF

Zone code

6000:COMMERCIAL,GENERAL

Property type

Motels

APN

16-7919-000-0060

APU

1679190000060

Description

This 45-key hotel in Florida City, Florida presents a compelling investment opportunity. Built in 1988, this single-story, exterior-corridor property sits on a 1.52-acre lot (APN: 16-7919-000-0060, 16-7919-000-0061) and is zoned C-2. The hotel boasts amenities including an outdoor pool, continental breakfast, and ample outdoor parking. Its strategic location off Krome Avenue (16,300 AADT), less than a mile from the intersection of the Florida Turnpike (50,300 AADT) and US-1 (30,000 AADT), provides exceptional visibility and accessibility. The property benefits from proximity to major demand generators such as Homestead-Miami Speedway, Homestead Air Reserve Base, Biscayne National Park, and its position as a gateway to the Florida Keys. Financial records indicate strong room revenue performance: $813,852 in 2021, $1,030,129 in 2022, and $852,350 in 2023. Furthermore, the property is conveniently located near Miami Dade College-Homestead (1.3 miles), Homestead Sports Complex (3.8 miles), Homestead Baptist Health Hospital (3.9 miles), and more. Seller financing is available. This is a concrete building with a manager's apartment on-site.

• CAP approach

  CAP return

  Valuation

  6%

  $17,302,100

  6.5%

  $15,971,169

  7%

  $14,830,371

• Comparable approach

  Method

  Valuation

  Relative Method

  $16,179,108

  Geo Method

  $16,179,108

• Alternative Use

  Use

  Valuation

  Residential

  $17,435,876

  Hospitality

  $15,971,169

  Educational

  $13,287,825

  Medical

  $13,744,813

  Retail

  $20,669,950

Location Insight

City

Florida City

County

Miami-dade

State

Florida

Latitude

25.4571

Longitude

-80.4767

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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