Building Details

Building Size 2,849 SF

Year Built 1950

Stories 2

Listing Agency: Show Phone

Listed By: Michael Major · License #BK3263112 Show Phone

Source: Majorrealestate

Added: Oct 30 Last Checked: Oct 30 at 2:50PM

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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 Michael Major

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Investment Insights

Based on property information with market context.

This 2,849-SF adjusted office-warehouse property occupies a 9,450-SF interior lot. The building includes three offices, three bathrooms, and a kitchen area. ADA compliance, CCTV, and access control are also in place, with parking at both the front and rear. The warehouse offers loading from the street and rear of the property.

The site is across from the airport and near the SR 112 ramp. Built in 1950, the property is zoned 6100.

Key Highlights

• 2,849 adjusted SF building on a 9,450 SF interior lot
• Three offices, three bathrooms, and kitchen area
• Warehouse has street and rear loading

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$62,667

Cap Rate

4.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,253,340 $1.3M

Cap Rate 7%

$895,243 $895.2K

Cap Rate 9%

$696,300 $696.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,849 SF

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 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 (±1% cap)

NOI $62,667 @ 7.0% cap · market cap 4.64%

Second Best

Warehouse

$533.5K

$466.9K – $622.5K (±1% cap)

NOI $37,348 @ 7.0% cap · market cap 2.77%

Theoretical Best

Office A

$1.45M

$1.26M – $1.69M (±1% cap)

NOI $101,179 @ 7.0% cap · market cap 7.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Daycare Center HVAC Service Butcher Tattoo & Piercing Shop Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Three offices, three bathrooms, and a kitchen provide a defined mix of work and support areas.

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 adjusted SF building on a 9,450 SF interior lot; Three offices, three bathrooms, and kitchen area; Warehouse has street and rear loading