Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Kendall Restaurant with Outdoor Dining Title is generated by Realmo AI

    Mills Dr. Unit 307, Kendall, FL 33183

    View on Map
    Picture of Shopping centers at Mills Dr. Unit 307, Kendall, FL
    For Sale
    $700,000

    Latin Inspired High-Vibe Restaurant in Kendall

    Property size:
    3,700 SF
    Price / SF:
    $189/SF
    Added:
    Feb 18, 2026
    Days on Market:
    97
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for Mills Dr. Unit 307

    General Information

    Standard status
    Active
    Property type
    Shopping centers, Retail properties & Spaces
    Size
    3,700 SF
    Class
    B
    Investment Type
    Net Lease

    Building Details

    Stories
    1

    We can help!

    Listing Contact
    Julie Negovan

    Listing agent Julie License #3449363

    Listing office Patricia Burnside Realty

    Listing date Feb 18, 2026

    Overview

    This 3,700-square-foot restaurant is located in Kendall, Florida, within a high-end shopping center. The space features fully equipped kitchens and bar areas, along with a stage designed for live entertainment, complete with state-of-the-art sound and lighting systems. An outdoor dining area complements the interior space, and ample free parking is available.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $695.2K
    NOI $62,564 @ 9.00% cap · cautious / downside scenario
    Moderate
    $893.8K
    NOI $62,564 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.25M
    NOI $62,564 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $97.7k $26.40
    − Vacancy −$8.3k −$2.24
    EGI $89.4k $24.16
    − OpEx −$26.8k −$7.25
    NOI $62.6k $16.91
    3,700 SF · lease $26.40/SF/yr · vacancy 8.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $893.8K
    $782.1K – $1.04M (±1% cap)
    NOI $62,564 @ 7.0% cap · market cap 8.94%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.88M
    $1.64M – $2.19M (±1% cap)
    NOI $131,402 @ 7.0% cap · market cap 18.77%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Map

    City
    Kendall
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.4061
    Latitude
    25.7001

    Nearby Similar for Sale

    • $695,000
      3,016 SF

      Established Pizzeria Business Opportunity

      Turnkey pizzeria business for sale in Kendall, Florida.
      16285 SW 88 ST, Kendall, FL 33193
      View Details
    • $120,000

      West Kendall Restaurant Opportunity

      Fully equipped Latin restaurant in a high-traffic West Kendall location.
      Latin Restaurant For Sale In West Kendall, Kendall, FL 33196
      View Details
    • $450,000
      4,540 SF

      Established Auto Mechanic Business Opportunity

      Profitable auto mechanic business for sale in Tamiami warehouse district.
      Mechanic Shop For Sale Near Tamiami Airport, Kendall, FL 33186
      View Details
    • $120,000
      1,300 SF

      Established Barbershop in Kendall

      Profitable barbershop with loyal clientele in a prime location.
      Established Barbershop for Sale – Prime Kendall Location, Kendall, FL 33175
      View Details
    • $1,200,000

      Established Pool Business in Kendall

      Profitable pool design and construction business for sale in Kendall.
      Established Fully License and Insured Pool/Spa business For Sale, Kendall, FL 33186
      View Details
    • $85,000

      Established Beauty Salon in Kendall

      Profitable beauty salon with loyal clientele in prime location.
      Beauty Salon For Sale On West Kendall, Kendall, FL 33175
      View Details
    • $99,000
      1,625 SF

      Kendall Warehouse and Business Opportunity

      Warehouse or established business for sale in Kendall, Florida.
      14911 SW 137th St, Kendall, FL 33196
      View Details
    • $179,000

      Artisan Pizzeria Business Opportunity

      Artisan NY style pizzeria in a high-density Kendall neighborhood.
      Undisclosed, Kendall, FL 33193
      View Details
    • $95,000
      1,200 SF

      Kendall Restaurant Business Opportunity

      Operating 1,200 sqft restaurant for sale in Kendall, Florida.
      Restaurant For Sale in the heart of Kendall, Kendall, FL 33186
      View Details
    • $75,000

      Turn-Key Bakery on Bird Road

      Fully equipped bakery for sale in high-traffic Miami location.
      Bakery & Cafe For Sale On Bird Road, Kendall, FL 33175
      View Details
    • $350,000

      Kendall Restaurant Business Opportunity

      Established Mexican restaurant for sale in Kendall, Florida.
      Kendall, FL 33176
      View Details
    • $85,000

      Turnkey Restaurant Opportunity in Kendall

      Restaurant for sale in prime location near Dadeland Mall.
      Asian Restaurant With Terrace For Sale Near Dadeland Mall, Kendall, FL 33156
      View Details

    FAQs

    What type of property is this?
    Shopping center - Latin Inspired High-Vibe Restaurant in Kendall
    Where is this shopping center located?
    The property is located at Mills Dr. Unit 307 Kendall, FL.
    What is the asking price?
    The asking price for this property is $700,000.
    (305) 389-5800
    We can help!
    Listing Contact
    Julie Negovan
    Real Estate License ID: 3449363
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Mills Dr., Unit 307, Kendall, FL 33183
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!