Former New York Yankees shortstop Derek Jeter has sold his Coral Gables mansion for $13.2 million, more than doubling the $6.5 million he paid for the property in 2018 and highlighting continued appreciation in Miami's luxury residential market.

The 8,200-square-foot estate at 7275 Old Cutler Road features seven bedrooms and seven bathrooms on nearly an acre just outside the gated Cocoplum neighborhood. Jeter purchased the property through a Delaware LLC and had most recently listed it for $14.9 million with Alex Pirez's Mocca Realty, while Compass agent Maurice Boschetti represented the buyer.

The sale represents a 103 percent return over eight years, or roughly 9 percent annualized appreciation, demonstrating the premium buyers place on prime Coral Gables locations. The property includes a pool, basketball court, summer kitchen and outdoor entertaining areas, plus a primary suite, chef's kitchen, wine cellar, office and elevator. Built in 2004, the home sits at approximately $1,609 per square foot.

Jeter's real estate moves reflect a broader strategy focused on waterfront luxury development in the Gables Estates area. The hall of famer paid $16.6 million in 2021 for a double-lot nearby in Gables Estates, where he is currently building a waterfront mansion, suggesting he's upgrading rather than exiting the Miami market.

The transaction occurs against a backdrop of significant luxury activity in Coral Gables, where ultra-high-net-worth buyers have driven substantial price appreciation. Recent comparable sales include luxury homebuilder Alex Pirez's $55 million waterfront Gables Estates sale last year and billionaire Jorge Mas's $75 million purchase in the same community, establishing new price benchmarks for the area.

For luxury market participants, Jeter's sale demonstrates continued demand for non-waterfront properties in prime Coral Gables locations, particularly those offering privacy and substantial acreage. The near-acre lot size and location adjacent to Cocoplum provide exclusivity without waterfront pricing, appealing to buyers seeking luxury amenities at relative value.

Jeter's connection to Miami extends beyond real estate through his former role as CEO and part owner of the Miami Marlins from 2017 to 2022. His previous real estate success includes a 2021 sale of a Tampa waterfront estate for $22.5 million, then a regional record, highlighting his consistent ability to time luxury real estate markets effectively.