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Lot/land
  • Price cut: $2.7M (5/4)
    $19,800,000

    720 Lugo Ave, Coral Gables, FL 33156

    --beds
    --baths
    0.74Acres
    Unimproved Land
    Built in ----
    0.74 Acres Lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    Spacious boathouseSummer kitchenSandy beachLush tropical landscapingTranquil fountains
    "My Paradise” lives up to its name. Set on a remarkable 32,025 SF lot with 250 feet of unobstructed, pristine waterfront views on both sides, this exceptional property presents a rare opportunity to create a world-class estate with unparalleled redevelopment flexibility, privacy, and natural beauty. Capturing breathtaking sunrise-to-sunset views across Biscayne Bay, Downtown Miami, Miami Beach, and Key Biscayne, it is privately positioned at the end of Lugo Avenue. The resort-style grounds feature lush tropical landscaping, wooden and coral stone walkways, a gazebo, sandy beach, summer kitchen, and tranquil fountains. An elevated pool deck with glass railings frames sweeping bay and island vistas. A true yachtsman’s retreat, the property includes a 66-foot dock with boat lift, a spacious boathouse, and plans in progress to extend to 100 feet. Ideally located just minutes from Coconut Grove, Downtown Miami, Miami Beach, and Miami International Airport, and close to fine dining, premier shopping, cultural and sporting venues, and top-rated schools. This offering represents an extraordinary opportunity to develop a landmark waterfront estate in one of Miami’s most coveted locations.
    80 days
    |
    459
    |
    16
    |

    Likely to sell faster than

    Zillow last checked:

    Listing updated:

    Listed by:

    Jill Eber 305-915-2556,

    Coldwell Banker Realty,

    Judith Zeder 305-613-5550,

    Coldwell Banker Realty

    Source: MIAMI,MLS#: A12013324MLS LogoOriginating MLS: A-Miami Association of REALTORS

      Facts & features

      Interior

      Video & virtual tour

      Property

      Features
      • Has view: Yes
      • View description: Bay, Ocean
      • Has water view: Yes
      • Water view: Bay,Ocean
      • Waterfront features: Ocean Front, Bay
      • Frontage type: Bay/Harbor
      • Frontage length: 250
      Lot
      • Size: 0.74 Acres
      • Features: City Lot, Other Soil Type, 1/2 To Less Than 3/4 Acre Lot, Other
      • Residential vegetation: Other Trees, Other Ground Cover
      Details
      • Additional structures: Other Bldg Incl
      • Has additional parcels: Yes
      • Parcel number: 0351180060320
      • Zoning: 0100

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Municipal Water
      • Utilities for property: Electricity Connected, Sewer Connected, Water Connected, Cable Available, Electricity Available, Other, Sewer Available, Water Available

      Community & HOA

      Community
      • Features: Gated, HOA
      • Subdivision: Coral Bay Sec B
      HOA
      • Has HOA: No
      Location
      • Region: Coral Gables
      • Elevation: 15 Feet

      Financial & listing details

      • Tax assessed value: $9,178,148
      • Annual tax amount: $68,572
      • Date on market: 5/5/2026
      • Listing terms: All Cash,Conventional
      • Road surface type: Paved

        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        DateEventPrice
        5/4/2026Price change$19,800,000-12%
        Source: MIAMI #A11953949 Report a problem
        2/4/2026Listed for sale$22,500,000
        Source: MIAMI #A11953949 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$38,073 +3%$2,051,369 +2.9%
        2024$36,962 +6.3%$1,993,556 +3%
        2023$34,756 -0.4%$1,935,492 +3%
        2022$34,882 +0.6%$1,879,119 +3%
        2021$34,679 +1.1%$1,824,388 +1.4%
        2020$34,298 +2%$1,799,200 +2.3%
        2019$33,618 +4.2%$1,758,749 +1.9%
        2018$32,248 $1,725,956 +2.1%
        2017$32,248 +0.7%$1,690,457 +2.1%
        2016$32,017 -0.8%$1,655,688 +0.7%
        2015$32,260 -0.8%$1,644,179 +0.8%
        2014$32,513 +3.7%$1,631,130 +1.5%
        2013$31,342 +0%$1,607,025 +1.7%
        2012$31,342 +1.5%$1,580,163 +3%
        2011$30,892 -5.3%$1,534,139 +1.5%
        2010$32,614 +8.2%$1,511,467 +2.7%
        2009$30,153 +7.4%$1,471,731 +4.9%
        2007$28,068 -7.2%$1,402,438
        2006$30,241 --
        2005$30,241 +2.2%--
        2004$29,588 +4.3%--
        2003$28,372 +4.6%--
        2002$27,114 --
        2001$27,114 --
        Find assessor info on the county website

        Monthly payment

        Estimated monthly payment$1,822
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: Coral Bay

        Getting around

        2 / 100
        Car-Dependent
        0 / 100
        No Nearby Transit
        30 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

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