This incremental development project is focused around a versatile continuously-running high-speed micro gas turbine research facility, which is capable of matching full engine similarity conditions including pressure loading (synonymous with Mach number), rotational speed, Reynolds number, as well as blade to gas temperature ratios. Towards predicting the aerodynamic and thermal conditions created on the test article, the current work describes the thermodynamic steady-state simulation of the closed-loop system that consists of a compressor, a pressure vessel, an electric heater, a test turbine, a dynamometer, pressure drop valves and an aftercooler. These subcomponents have inter-dependent performance parameters. Based on an explicit time-marching algorithm, virtual experiments are conducted in the system model to map the performance of the micro turbine as it is influenced by the independent control parameters (rotational speed of the compressor, rotational speed of the dynamometer, power supplied to the heating element, and the total mass of air in the system). Along these lines, different aspects of turbine testing, turbomachinery map scaling, component similarity analysis, as well as simplified analytical and numerical turbine heat transfer solutions are discussed. The tools and considerations associated with this effort will facilitate future endeavors in this research field.