The Mira has a flat topped mahogany body, a 25" scale mahogany neck (wide, thin or regular neck profile options). The rosewood fingerboard has 24 frets and moon inlays (with abalone bird inlays as an option). Scratchplate is a pearloid with matching trussrod cover on the headstock.

Hardware is a PRS stoptail bridge and locking tuners. There are two humbucking pickups. Controls are volume and tone with a 3-way pickup selector and a mini toggle switch to split the humbucker's coils. The Mira is available in Vintage Cherry, Orange, Vintage Mahogany, Black, Wild Mint, Lilac, Seafoam Green, Powder Blue and Sandstorm colors.

The price is somewhat lower than the rest of the PRS range: the body is solid mahogany with no fancy carved maple top. PRS marketing manager Peter Wolf said, "the Mira is giving PRS a greater opportunity to appeal to a younger audience". Selling at just over $1500, this could be more affordable PRS guitar for younger player.

Trivia: The name comes from the Latin word for wonderful.