Flex Space with Warehouse
New
For Sale
$780,000
3100 Milam Dairy Rd 112, Miami, FL 33122
Combined office, workshop, kitchen, and street-level loading support varied commercial operations.
Property Size2,472 SF
Price / SF$315.53
Days on Market4
Property Features for 3100 Milam Dairy Rd 112
General Information
Standard status
Active
Size
2,472 SF
Total Parking Spaces
3
Property subtype
Commercial
Warehouse & Industrial
Clear Height
18 ft
Three-Phase Power
Yes
Amenities
air-conditioned offices
workshop area
full kitchen
two bathrooms
street-level loading
3-phase power
Building Details
Building Size
2,472 SF
Year Built
1982
Listing Agency:
Oquendo Level Realty LLC
(786) 985-4959
Listed By:
Daniel Oquendo · License #A11972182
(786) 985-4959
Source:
Elliman
Added: Aug 20
Changed: Aug 23
Last Checked: Aug 22 at 9:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Oquendo Level Realty LLC
Investment Insights
Based on property information with market context.
Unit 112 is a 2,472-square-foot flex space combining conditioned office buildout with warehouse functionality. Approximately half of the unit is configured for air-conditioned offices, while the balance provides storage and workspace with street-level loading. The layout also includes a workshop, full kitchen, two bathrooms, and additional functional area.
The property is located near Miami International Airport at 3100 Milam Dairy Rd and includes three dedicated parking spaces. Building features include an 18-foot clear ceiling height and 3-phase power, supporting logistics, distribution, light manufacturing, and service-oriented business uses. Built in 1982, the unit offers a practical office-and-warehouse configuration in a single commercial space.
The property is located near Miami International Airport at 3100 Milam Dairy Rd and includes three dedicated parking spaces. Building features include an 18-foot clear ceiling height and 3-phase power, supporting logistics, distribution, light manufacturing, and service-oriented business uses. Built in 1982, the unit offers a practical office-and-warehouse configuration in a single commercial space.
Key Highlights
- 2,472 SF flex space with office, workshop, and warehouse areas
- Approximately half the unit is air‑conditioned office buildout
- Street‑level loading serves the warehouse storage area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,916
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,418,320
$1.4M
Cap Rate 7%
$1,013,086
$1.0M
Cap Rate 9%
$787,956
$788.0K
Market Conditions
NOI Build-Up for 2,472 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$111.2K $45.00/SF
− Vacancy
−$16.7K −$6.75/SF
EGI
$94.6K $38.25/SF
− OpEx
−$23.6K −$9.56/SF
NOI
$70.9K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,418,320
Cap Rate 7%
$1,013,086
Cap Rate 9%
$787,956
Alternative Uses
Best Use
Office B
$1.01M
$886.5K – $1.18M
NOI $70,916 @ 7.0% cap · market cap 9.09%
Second Best
Warehouse
$576.1K
$504.1K – $672.1K
NOI $40,327 @ 7.0% cap · market cap 5.17%
Theoretical Best
Specialty Retail
$1.67M
$1.46M – $1.95M
NOI $116,803 @ 7.0% cap · market cap 14.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
Location Intelligence
Trade Area within ½ mile
2,221
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33122, FL
2,126
Population
901
Households
2.4
Avg Household Size
35
Median Age
62%
College-Educated
85%
High-School Grad
2.4 sq mi
ZIP Area
886
Density / Sq Mi
$83,152
Median Household Income
$50,984
Median Earnings
$2,437
Median Rent
$1,284,700
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Combined office, workshop, kitchen, and street-level loading support varied commercial operations.
Where is this flex space located?
The property is located at 3100 Milam Dairy Rd 112 Miami, FL.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 2,472 SF flex space with office, workshop, and warehouse areas; Approximately half the unit is air‑conditioned office buildout; Street‑level loading serves the warehouse storage area
