Office Warehouse Near
For Sale
$1,350,000
660 Miller Dr, Miami Springs, FL 33166
2,849 SF office warehouse with ample parking.
Property Size2,849 SF
Lot Size0.22 Acres
Price / SF$473.85
Days on Market299
Property Features for 660 Miller Dr
General Information
Standard status
Active
Size
2,849 SF
Lot size
0.22 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$14,535
Building Details
Building Size
2,849 SF
Year Built
1950
Listing Agency:
The Keyes Company
(305) 785-2687
Listed By:
Sonia Diaz · License #3245875
Source:
Vanessafrankmiami
Added: Oct 30, 2025
Changed: Aug 23
Last Checked: Aug 24 at 12:39PM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This 2,849 adjusted square foot office warehouse is situated on a 9,450 square foot lot. The structure includes 1,750 square feet of warehouse area and 1,100 square feet of office area. The property features three offices, three bathrooms, and a kitchen area. It is ADA compliant and equipped with full CCTV and access control. Ample front and rear parking is available. The warehouse has street and rear loading access. The property is located across from the airport and close to the SR 112 ramp, providing convenient access.
Key Highlights
- 2,849 SF Office Warehouse featuring 1,750 SF Warehouse and 1,100 SF Office.
- Ample front and rear parking available.
- Great location across from the airport and close to SR 112 ramp.
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
$62,667
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
4.64%
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%
$1,253,340
$1.3M
Cap Rate 7%
$895,243
$895.2K
Cap Rate 9%
$696,300
$696.3K
Market Conditions
NOI Build-Up for 2,849 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
$102.6K $36.00/SF
− Vacancy
−$6.2K −$2.16/SF
EGI
$96.4K $33.84/SF
− OpEx
−$33.7K −$11.84/SF
NOI
$62.7K $22.00/SF
Area
Miami-Dade County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,253,340
Cap Rate 7%
$895,243
Cap Rate 9%
$696,300
Alternative Uses
Best Use
Flex RnD
$895.2K
$783.3K – $1.04M
NOI $62,667 @ 7.0% cap · market cap 4.64%
Second Best
Warehouse
$533.5K
$466.9K – $622.5K
NOI $37,348 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$1.45M
$1.26M – $1.69M
NOI $101,179 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33166, FL
26,106
Population
10,838
Households
2.4
Avg Household Size
41
Median Age
42%
College-Educated
83%
High-School Grad
7.9 sq mi
ZIP Area
3,305
Density / Sq Mi
$78,166
Median Household Income
$39,744
Median Earnings
$1,766
Median Rent
$489,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Miami Sandwich and Salad — 3750 NW 28th St #415, Miami, FL 33142
- Air Catering International — 455 E Okeechobee Rd, Hialeah, FL 33010
- Mobile Bar Miami — 751 SE Park Dr apt 203, Hialeah, FL 33010
- Bar Solution Services — 3745 NW 50th St Unit A, Miami, FL 33142
Frequently Asked Questions
What type of property is this?
Flex space - 2,849 SF office warehouse with ample parking.
Where is this flex space located?
The property is located at 660 Miller Dr Miami Springs, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 2,849 SF Office Warehouse featuring 1,750 SF Warehouse and 1,100 SF Office.; Ample front and rear parking available.; Great location across from the airport and close to SR 112 ramp.
