A Rare Trophy Asset: 5-Acre Development Opportunity Near Coral Gables Welcome to 5885 Miller Rd—a once-in-a-generation real estate offering in the heart of Miami. Situated just blocks from the prestigious limits of Coral Gables, this sweeping 5-acre parcel is one of the last remaining tracts of its size available in the urban core. Boasting an exceptional location surrounded by gorgeous, high-end homes, this property presents an unprecedented canvas for investors and developers. The land’s highest and best use offers immediate value: it can be subdivided right now into five premium 1-acre lots by right. For the forward-thinking developer, the property holds incredible potential for future rezoning and higher-density subdivision through the county system. Currently gracing the grounds is a beautiful, classic estate that offers timeless elegance and immediate utility while development plans are finalized. Property Highlights: The Canvas: 5 sprawling acres of pristine, level land. Development Potential: Prime for immediate subdivision into five 1-acre estates, with strategic avenues for future high-density rezoning. The Estate: A classic, beautifully maintained existing residence on-site. Strategic Location: Unbeatable proximity to Coral Gables, top-tier schools, and Miami's best dining and retail. Flood Zone X: High and dry—no flood insurance required. This is more than a piece of land; it is a legacy investment.
Single-familyProperty Type
1947Year Built
4.92 acresLot Size
$1,818Price/Sq.Ft.
3 car garageParking
Listed by Ileana Rodriguez• RE/MAX Advance Realty II
A Rare Trophy Asset: 5-Acre Development Opportunity Near Coral Gables Welcome to 5885 Miller Rd—a once-in-a-generation real estate offering in the heart of Miami. Situated just blocks from the prestigious limits of Coral Gables, this sweeping 5-acre parcel is one of the last remaining tracts of its size available in the urban core. Boasting an exceptional location surrounded by gorgeous, high-end homes, this property presents an unprecedented canvas for investors and developers. The land’s highest and best use offers immediate value: it can be subdivided right now into five premium 1-acre lots by right. For the forward-thinking developer, the property holds incredible potential for future rezoning and higher-density subdivision through the county system. Currently gracing the grounds is a beautiful, classic estate that offers timeless elegance and immediate utility while development plans are finalized. Property Highlights: The Canvas: 5 sprawling acres of pristine, level land. Development Potential: Prime for immediate subdivision into five 1-acre estates, with strategic avenues for future high-density rezoning. The Estate: A classic, beautifully maintained existing residence on-site. Strategic Location: Unbeatable proximity to Coral Gables, top-tier schools, and Miami's best dining and retail. Flood Zone X: High and dry—no flood insurance required. This is more than a piece of land; it is a legacy investment.
MARMLS #A12068686
Sep 29, 2026
Pending
—
Aug 12, 2026
Listed
$15,000,000
$1,818/sq ft
Public Records
May 1, 1972
Sold
$165,000
$20/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$29,315 (+2.8%)
2024
$28,530 (+3.4%)
2023
$27,582 (+3.0%)
2022
$26,770
2021
$26,779 (+1.1%)
2020
$26,490 (+2.0%)
2019
$25,968 (+4.6%)
2018
$24,832 (+0.7%)
2017
$24,663 (+0.2%)
2016
$24,621 (−1.3%)
2015
$24,936 (−1.3%)
2014
$25,262 (+1.7%)
2013
$24,846 (+3.8%)
2012
$23,927 (+2.9%)
$1,271,820 + $501,557
$1,773,377
2011
$23,263
Public record
Beds
4
Baths
3
Stories
2
Lot width
—
Lot depth
—
Lot size
4.92 Acres
Year renovated
1947
Finished Sq. Ft.
4,744
Unfinished Sq. Ft.
—
Total Sq. Ft.
4,744
Year built
1947
Style
Single Family Residential
County
Miami-Dade County
APN
3040240000940
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Oct 14, 2026.
Climate risks
2/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
10/10 Heat Factor
7 days above 104° expected this year, 27 days in 30 years
10/10 Wind Factor
99% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Miami, FL • 33155
Average low and high temperatures (°F)
75
59
79
62
82
66
84
71
90
76
90
78
92
79
91
78
89
76
86
75
83
68
79
65
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
87/ 100
Very good sunlight
Sunscore
This home receives average direct sun exposure in Miami. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
7.5 hrs
5.7 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 5885 SW 56th St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $1,845,000 and $3,900,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $1.8M to $3.9M.