Commercial Sale · Retail
5445 Collins Ave, Miami Beach FL 33140, MIAMI BEACH, FL, 33140
Active140 days on marketListed Mar 24, 2026MLS #A11988742
About this property
The property at a glance
Located at 5445 Collins Avenue, the historic Playboy Theatre presents a singular opportunity to acquire 25,860 square feet of high-volume interior space in the heart of Miami Beach’s prestigious Mid-Beach corridor. Currently in a state requiring full renovation, the property serves as a premier "blank canvas" for a visionary developer or hospitality group. The existing structure features a triple-level layout with soaring ceilings and massive, open floor plates—architectural assets that are nearly impossible to replicate under current Miami Beach building codes. While the interior requires a complete overhaul, 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. With no association approval 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. 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. 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.
25,860
Building sq ft
$251
Price / sq ft
178,196
Lot sq ft
1966
Year built
4100
Zoning
Retail
Property type
The numbers
Investment snapshot
Income and lease details aren’t published in the MLS for this listing. Ask for the offering memorandum and rent roll to run cap rate, NOI and cash-on-cash.
Estimated payment (illustrative)
Estimated payment
$35,346/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Estimates only — taxes at 1.1%/yr and typical insurance; your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask David to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
11,235
Population
$110,561
Median income
48
Median age
2
Avg household
$633,292
Median home value
$2,232/mo
Median rent
959
Households w/ kids
Consumer profile
Interested in the finer things life has to offer, this population wants to display their lifestyle by discussing luxury products. Often references jewelry, cars, and home features.
The party don't stop until the sun comes up. Loud music, crowds, and shots are a recipe for a great night out for these people.
Driven to succeed in the business world, this population seeks to progress in their career through networking happy hours, summits, and connecting with other professionals online.
Seeking peace and well-being through meditation, gratitude and spirituality.
This population is all about finding the latest in men's style - from fashion to grooming. Captures guys looking to stay on trend and significant others assisting with shopping.
Always thinking about their next destination, this population loves exploring new places abroad or right in their own backyard. They hold onto past trips by sharing their favorite memories and pictures year round.
Recent sales
What actually sold near 5445 Collins Ave
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$610,000
1701 Sunset Harbor Dr # S206, Miami Beach FL 33139
Sold Aug 15, 2024
$6,500
1427 Alton Rd # 1427B, Miami Beach FL 33139
Sold Aug 18, 2024
$9,000
11001 Biscayne Blvd, Miami FL 33161
Sold Jan 2, 2025
Your team
The pros in your corner
Your agent
David Ramirez
Real Estate Agent · CENTURY 21 Edge
Tours, offers, and every question about 5445 Collins Ave — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for 5445 Collins Ave.
See it in person
Schedule a tour
Pick a day that works — this goes straight to David's phone and CRM.
Keep looking
Similar properties nearby
Listing courtesy of Fausto Commercial Realty Consultants Inc · Antonio Saladrigas. MLS #A11988742.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Miami Association of REALTORS®.
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