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Single Family Residence
$15,000,000$1,818 / sqft
5885 SW 56th St, Miami FL 33155
Listed
5
Bedrooms
5
Bathrooms
8,252 sqft
Interior
1947
Year built
None
HOA
Single Family Residence
Type
About this home
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.
Features
- First Floor Entry
- Pantry
- Chandelier To Be Replaced
- Walk-In Closet(s)
- Attic
- Den/Library/Office
- Family Room
- Florida Room
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 5-bed rentals across Miami-Dade, from 200 active listings; the middle half ask $5,000–$19,750.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.