CBRE Lists 8.12-Acre Development Opportunity at the Entrance to Coral Gables

CBRE announced it is marketing an 8.12-acre development site for sale in Miami.

Robert Given, Brad Capas and Dennis Carson with CBRE are representing the seller in marketing the development site.

The property, at 3655 SW 22nd Ave., is prominently positioned at the entrance to Coral Gables’ renowned Miracle Mile. Currently improved with an aging Sears department store, the property is ideally positioned for mixed-use redevelopment. In fact, the site recently received site plan approval from the City of Miami for a three-building, eight-story mixed-use development consisting of 1,050 residential units and 49,737 square feet of commercial space.

“This extraordinary opportunity will appeal to a wide range of developers,” said Robert Given, Vice Chairman at CBRE. “The site’s scale and proximity to Coral Gables provide an unparalleled opportunity to create a mixed-use enclave in one of South Florida’s most sought-after locations.”

Coral Gables Square has a Walk Score of 96 and is close to the area’s leading retail, dining, office, and entertainment destinations. The city’s average household income is $198,089, with 62% of households earning more than $100,000 annually.

The Shops at Merrick Park, an open-air shopping mall, is just one mile from the site, and The Plaza Coral Gables mixed-use development is within walking distance.