Projects
Gables Auto Vault
Project facts
- Status
- Completed
- Address
- 3851 Bird Rd
- City
- Miami, Florida
- Region
- South Florida
- Submarket
- Miami; Miami Beach
- Units
- 12
- Amenity tier
- Premium
- Key amenities
- Concierge Services, Climate Control, Gated Access & Security, Video Surveillance
- Construction
- Block
- Finish level
- Luxury
- Year built
- 2018
- Flood zone
- X
Market value summary
- # of Sales (T-36)
- 2
- Avg Sale Price (T-36)
- Under 3 sales
- Avg Sale Price (T-36)
- Under 3 sales
- Avg Market Value
- $574 / SF
- Avg Market Value
- $902,000
Location Summary
Coral Gables Edge / Miami; Miami Beach Overview
3851 Bird Road sits on SW 40th Street a few hundred feet east of the Coral Gables city line, roughly a quarter mile west of Douglas Road (SW 37th Avenue) and about a third of a mile north of the Douglas Road Metrorail station and the US-1 corridor. This is the seam where the Gables, Coconut Grove, and University of Miami trade areas meet, and the wealthiest micro-location on the platform. Median home value inside three miles is $781,950 and 14,495 households in that same ring earn $200,000 or more, while the corridor's portfolio-relative wealth percentile stands at 100.0, the top of the entire platform.
Access is unusually good for an address this deep inside an established neighborhood. Douglas Road and LeJeune Road carry north to the Dolphin Expressway (SR 836) and Miami International Airport in roughly 10 to 12 minutes, while US-1 runs southwest toward Pinecrest and northeast into Brickell in about the same time. Two inherited facts set the context: the tri-county market closed 361 sales at $10 million and up in 2025, the second-most in recorded history, and the continuing relocation of financial firms into Brickell, anchored by Citadel's roughly $2.5 billion headquarters, keeps thickening the ultra-high-net-worth base that Coral Gables absorbs as residential overflow.
The immediate character is old-money residential wrapped around a working luxury retail and office core. Seasonal units are only 3.1 percent of the five-mile housing stock while luxury housing is 14.4 percent of it, so owners here keep their collections where they live year-round.
Current Events & Infrastructure
- Crescendo at Link at Douglas: 13th Floor Investments and Barings broke ground on June 12, 2026 on the 37-story, 392-unit final tower at 3070 SW 37th Avenue, backed by a $134 million construction loan led by Santander Bank with TD Bank and First Horizon, targeted for 2029 delivery. The tower stands about a third of a mile southeast and completes a seven-acre transit-oriented district of more than 1,500 residences and over 30,000 square feet of retail.
- The Underline, Phase 3: Miami-Dade County is building the final 7.36-mile segment from near the Vizcaya Metrorail station to Dadeland South under a $109 million construction contract, with completion expected in 2026. The alignment passes about a third of a mile south along the Metrorail corridor, converting the US-1 frontage from a traffic artery into a linear park and improving walkability to the Douglas Road station.
Key Demand Drivers
The demand case here is a supply mismatch. Link at Douglas alone will deliver more than 1,500 residences whose garages are sized for commuting vehicles, and the surrounding Gables housing stock is largely 1920s to 1950s product on lots with one-car and two-car garages that cannot hold a collection. Against three-mile affluence of 14,495 households above $200,000, the need for secure, climate-controlled, private-entry space within a ten-minute drive is structural rather than cyclical.
- ModaMiami at The Biltmore Hotel: The Biltmore is about two miles west-northwest. The third edition ran February 28 to March 1, 2026 and displayed more than 500 cars for over 8,000 guests, with an RM Sotheby's auction whose top lot, a 1959 Ferrari 250 GT LWB California Spider, brought $7,045,000 and whose top ten lots exceeded $35 million combined.
- Village of Merrick Park: The 742,871-square-foot luxury center at 358 San Lorenzo Avenue, about half a mile southwest, carries 98 stores anchored by Neiman Marcus, Nordstrom, and Equinox. It is the retail center of gravity for this buyer profile.
- University of Miami: The 240-acre Coral Gables campus, about two miles southwest, enrolls 20,104 students and employs more than 21,000 faculty and staff as the second-largest employer in Miami-Dade County, on a roughly $10.4 billion endowment as of fiscal 2025. It anchors a permanent professional and physician population in the inner rings.
- The Ponce complex and the Coral Gables office core: On July 6, 2026 an investor group including Intalex Capital, Itero Investments, and Greenwall Capital bought the 365,000-square-foot Ponce complex at 2525 and 2555 Ponce de Leon Boulevard from PGIM for $97.8 million, at 65 percent leased. Coral Gables Class A rents average $68.20 per square foot, and the office core about 1.5 miles northwest hosts Apple offices and the headquarters of Amerant and City National Bank of Florida.
Location Highlights
- MSA Position: South Florida holds above 6 million residents, and the Miami; Miami Beach corridor is the platform's top-ranked submarket at a 100.0 wealth percentile.
- Enthusiast / Collector Culture: ModaMiami at The Biltmore two miles away, the closing event of Miami Car Week, plus a year-round driving climate that keeps collections in use rather than in seasonal hibernation.
- Infrastructure & Recreation: The Underline's final 7.36-mile phase a third of a mile south, the Douglas Road Metrorail station within walking distance, and MIA about 10 to 12 minutes north.
- Market-Specific Factor: Pre-war and mid-century Gables housing with one-car and two-car garages leaves high-income owners no on-property option for a third or fourth vehicle.
- Tax & Quality of Life: No state income tax, and a tri-county ultra-luxury market that closed 361 sales at $10 million and up in 2025.
- High Net Worth Concentration: 14,495 households earning $200,000 or more within three miles, 29,234 within five, and 45,086 within seven, against median home values of $781,950, $678,885, and $654,414. This is the deepest three-mile affluence in the SCK portfolio.
Area Demographics (ACS 2024)
5-Mile Profile: Population 489,414 | Median HH Income $74,875 | HH Earning $150K+ 22.5% | Median Age 41.0 | Age 55+ 31.8% | Seasonal Units 3.1% | Households with 3+ Vehicles 11.2%
Wealth Index: 9.8 / 10 (SCK portfolio-relative)
Unit values
| Unit | Size | Market value | $ / SF |
|---|---|---|---|
| Unit 401 | 2,306 SF | $1,268,000 | $550 / SF |
| Unit 402 | 1,054 SF | $626,000 | $594 / SF |
| Unit 403 | 1,055 SF | $627,000 | $594 / SF |
| Unit 404 | 1,055 SF | $627,000 | $594 / SF |
| Unit 405 | 1,055 SF | $627,000 | $594 / SF |
| Unit 406 | 2,482 SF | $1,334,000 | $538 / SF |
| Unit 407 | 629 SF | $373,000 | $593 / SF |
| Unit 408 | 790 SF | $456,000 | $577 / SF |
| Unit 501 | 2,334 SF | $1,278,000 | $548 / SF |
| Unit 502 | 998 SF | $599,000 | $600 / SF |
| Unit 503 | 1,055 SF | $627,000 | $594 / SF |
| Unit 504 | 4,592 SF | $2,379,000 | $518 / SF |