Miracle Mile
Description
Mediterranean-Dream That Embraces Retail, Dining, and Posh Appeal
Miracle Mile stands out as a destination for shopping, dining, and leisure in South Florida — an icon in the area. Known for its Mediterranean-inspired architecture, lush, tree-lined streets, and boutique charm, Miracle Mile has rapidly seized and molded the spirit of Coral Gables as its own. Known as the “City Beautiful.” The avenue’s curated mix of high-end home furnishings, upscale boutiques, popular restaurants, and bridal shops makes it a draw for young professionals, families, high-income residents, and tourists.
The Miracle Mile Experience
This scenic avenue offers an eclectic mix of home decor brands like Crate & B
Five Iron Golf is bringing its flagship Florida location to The Plaza Coral Gables in Miami, with a grand opening slated for Q1 2026. The massive 29,500-square-foot venue will feature 12 cutting-edge golf simulators, 12 bowling lanes, a full-service restaurant and bar, and versatile spaces for events and entertainment—all in a high-end, indoor-outdoor setting.
This premier site anchors a major mixed-use development and reflects Five Iron’s rapid growth, led by award-winning franchisees Peter McCormick and Alex Zega, who are expanding the brand across Florida and internationally. With backing from Callaway Golf and Danny Meyer’s Enlightened Hospitality Investments, Five Iron continues redefining golf and entertainment for a new generation.
Local Expert Analysis
Leasing and Market Dynamics
Miracle Mile’s leasing market is competitive, with gross rents ranging from $75 to $100 per square foot and a low vacancy rate of 5-10%. Retailers are drawn to the Mile’s unique combination of upscale visibility, strong pedestrian appeal, and community focus, which fosters a balanced mix of national brands and local businesses. This steady demand and prime location near office buildings, upscale hotels, and luxury residential developments make Miracle Mile a prime retail corridor within the Miami metro area. Additionally, capacity limits at nearby Shops at Merrick Park only increase Miracle Mile’s allure.
Customer Demographics and Foot Traffic Patterns
Miracle
New Developments
Although Miracle Mile itself isn’t undergoing large-scale redevelopment, nearby projects like The Plaza Coral Gables have a positive impact on the Mile’s ecosystem. This expansive mixed-use development features a Loews Hotel, Class A office spaces, high-end retail, and dining venues, all of which are expected to increase foot traffic and attract a broader range of high-income residents and visitors. Recent restaurant openings, such as Maman and Pisco y Nazca, add fresh energy to the Mile’s culinary landscape, further solidifying its reputation as a walkable, picturesque destination within Coral Gables.