Office Warehouse with Street
For Sale
$1,350,000
660 Miller Dr, Miami Springs, FL 33166
COMMERCIAL - Miami Springs, FL
Property Size2,849 SF
Lot Size0.22 Acres
Price / SF$473.85
Days on Market164
Property Features for 660 Miller Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6100
Subdivision
31
Standard status
Active
APN
05-31-20-030-0090
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
FOUST SUB PB 46-31 LOT 9 BLK 1 LOT SIZE 75.000 X 126 OR 18701-4925 0799 1
Tax Annual Amount
14535
Legal Description
FOUST SUB PB 46-31 LOT 9 BLK 1 LOT SIZE 75.000 X 126 OR 18701-4925 0799 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
CCTV
access control
kitchen area
Building Details
Year built
1950
Floors in Building
2
Listing Agency:
The Keyes Company
(305) 371-3592
Listed By:
Sonia Diaz · License #3245875
(305) 785-2687
Added: Mar 3
Changed: Aug 4
Last Checked: Aug 14 at 4:06AM
MLS# A11905480
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office warehouse includes approximately 1,750 SF of warehouse space and about 1,100 SF of office area. The office portion features three offices, three bathrooms, and a kitchen area, while the overall property is described as in good condition. Building systems and security are addressed with ADA compliance, full CCTV coverage, and access control. Loading is supported both at the street and at the rear, giving operations flexibility for receiving and dispatch.
The property sits on an interior lot of about 9,450 SF and is equipped with ample parking at both the front and rear. It is located in Miami Springs, across from the airport, with proximity to the SR 112 ramp cited as a key convenience for access.
For buyers or tenants seeking a combined work-and-office setup, the mix of warehouse throughput and dedicated office space can support distribution, light industrial operations, or service-focused businesses that need on-site administration. With street and rear loading, multiple offices, and on-site restrooms, the layout is designed to accommodate day-to-day work functions while maintaining a professional office environment for staff and visitors.
The property sits on an interior lot of about 9,450 SF and is equipped with ample parking at both the front and rear. It is located in Miami Springs, across from the airport, with proximity to the SR 112 ramp cited as a key convenience for access.
For buyers or tenants seeking a combined work-and-office setup, the mix of warehouse throughput and dedicated office space can support distribution, light industrial operations, or service-focused businesses that need on-site administration. With street and rear loading, multiple offices, and on-site restrooms, the layout is designed to accommodate day-to-day work functions while maintaining a professional office environment for staff and visitors.
Key Highlights
- 2,849 adjusted SF office warehouse on a 9,450 SF interior lot
- 1,750 SF warehouse area with street and rear loading
- 1,100 SF office space with 3 offices and a kitchen 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
$75,513
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
5.59%
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%
$1,510,260
$1.5M
Cap Rate 7%
$1,078,757
$1.1M
Cap Rate 9%
$839,033
$839.0K
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
$129.9K $45.60/SF
− Vacancy
−$29.2K −$10.26/SF
EGI
$100.7K $35.34/SF
− OpEx
−$25.2K −$8.84/SF
NOI
$75.5K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$1,510,260
Cap Rate 7%
$1,078,757
Cap Rate 9%
$839,033
Alternative Uses
Best Use
Office B
$1.08M
$943.9K – $1.26M
NOI $75,513 @ 7.0% cap · market cap 5.59%
Second Best
Flex RnD
$895.2K
$783.3K – $1.04M
NOI $62,667 @ 7.0% cap · market cap 4.64%
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
Lease Details
Yes
Highway access
Yes
Paved road 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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - ADA-compliant office warehouse with street and rear loading plus ample front and rear 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 adjusted SF office warehouse on a 9,450 SF interior lot; 1,750 SF warehouse area with street and rear loading; 1,100 SF office space with 3 offices and a kitchen area
