3301 Coral WayMiami, FL 33145

Property Details for 3301 Coral Way

Year built

1989

Construction

CONCRETE

Lot size

3.46 AC

Property size (Sq ft)

613,998 SF

Zone code

6101

Property type

Super regional malls

APN

01-4109-069-0020

APU

141090690020

Description

Miracle Marketplace presents a unique opportunity to acquire a substantial retail property in a prime Miami-Dade County location. This two-story, 242,483 square foot shopping center is currently fully vacant, offering an exceptional blank canvas for a large-scale tenant or redevelopment project. The property boasts a strategic location adjacent to Miracle Mile, a renowned retail and restaurant destination in Miami, Florida. Its impressive three-level design provides ample space for a diverse range of retail uses. Convenience is key, with abundant free parking across three upper floors, accommodating 1,000 vehicles, and the added convenience of valet parking. The property benefits from exceptional accessibility, situated on Coral Way Road, a major thoroughfare with over 40,000 vehicles passing daily. The surrounding area boasts a high population density, with over 528,000 people residing within a five-mile radius. This strong demographic is further supported by the presence of major employers including The University of Miami, Bacardi, Fresh Del Monte Produce, ExxonMobil, and American Airlines, ensuring a substantial customer base. The previous tenant lineup included well-known brands such as Nordstrom Rack, DSW, Marshalls, LA Fitness, Petsmart, Five Below, and Burlington (planned). This exceptional location and substantial square footage make Miracle Marketplace an unparalleled investment opportunity in the vibrant Miami market.

• CAP approach

  CAP return

  Valuation

  6%

  $779,269,952

  6.5%

  $719,326,144

  7%

  $667,945,664

• Comparable approach

  Method

  Valuation

  Relative Method

  $592,389,696

  Geo Method

  $592,389,696

• Alternative Use

  Use

  Valuation

  Residential

  $606,778,496

  Hospitality

  $555,805,824

  Educational

  $462,423,936

  Medical

  $478,327,424

  Retail

  $719,326,144

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7505

Longitude

-80.2496

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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