5445 Collins Ave
Miami Beach, FL 33140 Oceanfront

• Unit Size: 25,860 SF
• Condo Use: Retail
• Price: $6,500,000 USD
• Sale Type: Investment or Owner User
• Price/SF: $251.35 USD

Description

The historic Playboy Theatre features 25,860 square feet of high-volume interior space across a triple-level layout. The existing structure boasts soaring ceilings and massive, open floor plates, architectural assets nearly impossible to replicate under current Miami Beach building codes. The "bones" of the venue, including the original grand stage and structural volumes, provide a robust foundation that significantly reduces the complexity of a ground-up build. A key operational advantage is the expansive kitchen area located parallel to the main theatre volume, which provides the necessary footprint for high-volume back-of-house operations.

Sale Notes

Located at 5445 Collins Avenue in the heart of Miami Beach’s prestigious Mid-Beach corridor. The space currently requires full renovation, serving as a premier "blank canvas" for a visionary developer or hospitality group. With no association approval needed for business type, the property is uniquely suited for a flagship nightclub, live-performance theatre, or movie theatre where the expansive vertical clearance and existing stage infrastructure allow for world-class acoustics and immersive lighting design. The layout is also ideal for a modern supper club, a high-end cabaret, or a hybrid entertainment-dining concept that requires seamless service between a commercial-grade kitchen and a grand performance space. Positioned steps from the ocean in a high-barrier-to-entry market, this asset allows an investor to curate a marquee destination that captures the high-spending demographic of the Collins Avenue corridor.

• Unit Size: 5,750 SF
• Condo Use: Retail
• Price: $3,500,000 USD
• Sale Type: Investment or Owner User
• Price/SF: $608.70 USD

Description

This prime commercial hospitality offering comprises two contiguous units totaling 5,750 adjusted square feet (Unit CU-2A at 4,500 SF and Unit L6 at 1,250 SF) within the oceanfront landmark property at 5445 Collins Avenue in Miami Beach. Built in 1966, the space currently operates as Blu Gin Restaurant and Lounge. It features soaring floor-to-ceiling perimeter windows delivering direct Atlantic Ocean vistas, high-volume dining room capacity, an expansive full-service bar, and a fully equipped commercial kitchen complete with commercial hood, flat tops, grill, fryers, and refrigeration infrastructure. 

The offering includes an active 4COP license with delivery allowances, presenting an operator or investor with immediate, barrier-free market entry along Mid-Beach's prestigious Millionaire's Row. The layout delivers high-visibility exposure to the property's busy residential and guest lobby, creating a captive customer pipeline while capturing external local and tourist patrons. The dual-unit configuration allows for flexible operational structuring, expanded banquet seating, or dedicated back-of-house storage and administrative functions.

• Unit Size: 12,006 SF
• Condo Use: Retail
• Price: $4,250,000 USD
• Sale Type: Investment or Owner User
• Price/SF: $353.99 USD

Description

Unit CU-14 is a strategically vital commercial asset within a premier Miami Beach oceanfront corridor. Spanning a total of approximately 12,006 square feet, this unit serves as the functional heart of the property. It consists of 2,087 square feet of finished office, reception space, and convenience store paired with a massive 9,919-square-foot infrastructure shell that includes a pump room, valet area, dedicated storage,  linen closets and utility rooms situated across 14 floors. Uniquely, this acquisition includes an active liquor license, as the space is currently authorized for alcohol sales, offering a turnkey solution for hospitality groups seeking to bypass the significant regulatory hurdles of Miami Beach.

Sale Notes

CU-14 offers a "blank canvas" for a visionary investor to build out a high-volume hospitality hub. Subsequently; it complements the current sale of the Playboy Theatre located within the same building. Positioned within the RM-3 High-Density district, this asset represents a rare opportunity to own the operational backbone of a landmark building, complete with the licensing necessary to drive premium revenue in one of the world's most iconic beachfront markets.