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$3,500,000
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Property Description
Freestanding second-generation restaurant/event commercial building located along Coral Way, a major east-west corridor connecting Coral Gables, Brickell, Coconut Grove, and Downtown Miami. The approximately 7,200± SF property offers excellent visibility, strong street frontage, and prominent signage opportunities. Previously operated as a restaurant and entertainment venue, the building features a flexible high-capacity layout with multiple bar areas, commercial kitchen infrastructure, professional hood system, and upper-level dining and event spaces. Approved occupancy for approximately 217 seats with eligibility for 4COP SFS liquor licensing. The property includes substantial existing commercial infrastructure, with significant prior investment in kitchen systems, lighting, sound equipment, and build-out components designed to support high-capacity hospitality operations. This renovated standalone structure is suitable for a restaurant, hospitality, entertainment, retail, showroom, or adaptive commercial uses. Investment potential includes owner-user occupancy, repositioning, or leasing in a high-demand urban corridor with limited freestanding inventory. The seller may consider owner financing for qualified buyers. Also available for lease. Freestanding Coral Way restaurant/nightlife opportunity with existing kitchen infrastructure, multiple bar areas, strong frontage, and flexible use potential. Also for lease
Full Property Details
Full Property Details for 3138 Coral Wy
General
- Price: $3,500,000
- Status: Active
- Type: Retail
- Source: Greater_Miami
- MLS ID: A11971140
- Updated: 6/17/2026
- Added to Site: 165 day(s) ago
Business
- Business Type: Retail Space
Additional Information
- Security/Safety: Smoke Alarm, Smoke Detector(s), Fire Sprinkler System
Location
- County: Miami-Dade County
Structural Information
- Structure Type: Free Standing
- Detached/Attached: Detached
- Stories/Levels: 2
- Building Size: 7200
- Year Built: 1950
Lot Features
- Lot Size (Sq. Ft.): 5,750
- Lot Features: Central Business District, City Location
- Zoning: 6101
Financial Considerations
- Terms: Assumable, Conventional/Refinance, Owner Will Carry
Disclosures and Reports
- Special Conditions: Sale
- Legal Description: AMD MIAMI SUBURBAN AC PB 4-73 LOT 6 LESS ST BLK 3 LOT SIZE 50.000 X 115 OR 20976-1316 0103 1
- Inclusions: Fixtures, Furniture, Inventory, Equipment, Furniture/Fixtures, Inventory
- Property ID: 01-41-16-009-0590
Listed by TMT Real Estate, LLC. and Luxury Level Realty Group, LLC.
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Schools
Schools serving 3138 Coral Wy
School District:Dade County School District
| Name | Grades | Distance |
|---|---|---|
Frances S. Tucker Elementary School 3500 Douglas Road, Miami, FL 33133 | PK-5 | 1.8 mi |
Ponce De Leon Middle School 5801 Augusto Street, Coral Gables, FL 33146 | 6-8 | 2.9 mi |
Coral Gables Senior High School 450 Bird Road, Coral Gables, FL 33146 | 9-12 | 1.6 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 3138 Coral Wy
Date
Details
Price
Change
Source
6/17/2026
Price Reduced
$3,500,000
-12.5%
MLS
6/01/2026
Price Reduced
$3,999,950
-20%
MLS
5/18/2026
Price Reduced
$4,999,950
-9.09%
MLS
2/24/2026
Listed
$5,500,000
1292.41%
MLS
1/27/2003
Sold
$395,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 3138 Coral Wy
Year
Property Taxes
Change
Tax Assessment
Change
2025
$35,908
6%
$1,670,098
-19%
2024
$33,933
20%
$2,051,000
49%
2023
$28,373
2%
$1,380,247
2%
2022
$27,918
8%
$1,354,230
5%
2021
$25,872
-6%
$1,289,580
-1%
2021
$27,399
—
$1,296,276
1%
2019
$27,288
5%
$1,278,342
4%
2018
$26,077
8%
$1,226,154
2%
2017
$24,245
10%
$1,204,919
19%
2016
$22,117
3%
$1,013,351
5%
2015
$21,438
2%
$964,151
4%
2014
$20,945
—
$923,559
-1%
2013
$21,041
—
$928,894
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 3138 Coral Wy
3138 Coral Way, Miami, FL 33145 (MLS# A11971140) is a Retail property. 3138 Coral Way is currently listed for $3,500,000 and was received on February 24, 2026. Want to learn more about 3138 Coral Way? Do you have questions about finding other Retail real estate for sale in Miami? You can browse all Miami real estate or contact a Coldwell Banker agent to request more information.

