Corner Unit Retail/Office
For Sale
$780,000
3100 Milam Dairy Rd # 112, Miami, FL 33122
Two-story upgraded corner unit with retail frontage and extra parking.
Property Size2,472 SF
Days on Market168
Property Features for 3100 Milam Dairy Rd # 112
General Information
Standard status
Active
Size
2,472 SF
Property subtype
Flex Space
Building Details
Building Size
2,472 SF
Year Built
1982
Listing Agency:
Oquendo Level Realty LLC
Listed By:
Daniel Oquendo · License #3257088
Source:
Relinkre
Added: Mar 26
Changed: Sep 3
Last Checked: Sep 8 at 9:44AM
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.
This two-story corner unit features retail frontage and additional parking on the side. The upgraded space includes central air units and extra office space at the back. It is located less than 1 mile from Palmetto Expressway and SR112, with easy access to Dolphin 836. The property is also close to the airport and railway. It has IU-2 zoning.
Key Highlights
- Prime Location: Less than 1 mile from Palmetto Expressway and SR112, with easy access to Dolphin 836, and close to the airport and railway.
- IU‑2 Zoning: Offers versatile usage options for various business types.
- Corner Unit with Additional Parking: Provides enhanced visibility and convenient parking.
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
—
—
no second resolved use
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
Location Intelligence
Trade Area within ½ mile
2,221
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Two-story upgraded corner unit with retail frontage and extra parking.
Where is this office units 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: Prime Location: Less than 1 mile from Palmetto Expressway and SR112, with easy access to Dolphin 836, and close to the airport and railway.; IU‑2 Zoning: Offers versatile usage options for various business types.; Corner Unit with Additional Parking: Provides enhanced visibility and convenient parking.
