4855 University Dr Coral Gables, FL Rare waterfront opportunity along the Coral Gables Waterway. This distinctive offering features two condo units within a single structure, set on an oversized waterfront lot ideal for redevelopment into a bespoke luxury residence, with the potential to add dock(s) and boating structures. Enjoy direct water frontage in a quiet residential enclave surrounded by high-end homes, delivering exceptional long-term value in one of Coral Gables’ most prestigious neighborhoods. The property is currently income-producing with leases in place, allowing a buyer to offset holding costs while planning, designing, and permitting a future redevelopment. Opportunities with this scale, orientation, and flexibility are increasingly scarce, making it ideal for a luxury end-user, builder, or investor seeking to create a one-of-a-kind waterfront estate defined by privacy, seamless indoor-outdoor living, and timeless architectural appeal. Note: There are two folio numbers: 03-4119-020-0010/0020