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Historic Playboy Theatre Renovation Opportunity

5445 Collins Ave CU1, Miami Beach, FL 33140

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For Sale

$6,500,000

25,860 SF Miami Beach space for visionary development.

Type:Commercial

Property size:

25,860 SF

Price / SF:

$251/SF

HighLights

Premier "blank canvas" opportunity in Miami Beach's Mid‑Beach corridor, allowing for a visionary development.
Substantial 25,860 sq ft interior space with triple‑level layout, soaring ceilings, and massive open floor plates.
Unique suitability for a flagship nightclub, live‑performance theatre, or movie theatre due to expansive vertical clearance and existing stage infrastructure.
Original grand stage and robust structural volumes provide a strong foundation, reducing ground‑up build complexity.
Expansive kitchen area parallel to the main theatre volume supports high‑volume back‑of‑house operations.
Located steps from the ocean in a high‑barrier‑to‑entry market on Collins Avenue, attracting a high‑spending demographic.

We can help!

Listing Contact

Antonio Saladrigas

Learn more

For Sale

$6,500,000

25,860 SF Miami Beach space for visionary development.

Type:Commercial

Property size:

25,860 SF

Price / SF:

$251/SF

Added:: Apr 24, 2026
Days on Market:: 47
Last Refresh:: Apr 24 at 3:43 pm

Property Features for 5445 Collins Ave CU1

General Information

Standard status: Active
Size: 25,860 SF
Property subtype: Commercial

Building Details

Year Built: 1966

We can help!

Listing Contact

Antonio Saladrigas

Listing agent Antonio Saladrigas License #3502121

Listing office Fausto Commercial Realty Consultants Inc

Listing date Apr 24, 2026

Source Elliman

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Fausto Commercial Realty Consultants Inc

HighLights

Premier "blank canvas" opportunity in Miami Beach's Mid‑Beach corridor, allowing for a visionary development.
Substantial 25,860 sq ft interior space with triple‑level layout, soaring ceilings, and massive open floor plates.
Unique suitability for a flagship nightclub, live‑performance theatre, or movie theatre due to expansive vertical clearance and existing stage infrastructure.
Original grand stage and robust structural volumes provide a strong foundation, reducing ground‑up build complexity.
Expansive kitchen area parallel to the main theatre volume supports high‑volume back‑of‑house operations.
Located steps from the ocean in a high‑barrier‑to‑entry market on Collins Avenue, attracting a high‑spending demographic.

Overview

Located at 5445 Collins Avenue in Miami Beach's Mid-Beach corridor, the historic Playboy Theatre offers a unique opportunity to acquire 25,860 square feet of interior space. Currently 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. The original grand stage and structural volumes provide a robust foundation. The property is 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. An expansive kitchen area is located parallel to the main theatre volume, providing the necessary footprint for high-volume back-of-house operations. Positioned steps from the ocean, this asset allows an investor to curate a marquee destination that captures the high-spending demographic of the Collins Avenue corridor. The location has a bike score of 56, walk score of 59, and transit score of 47.

Location Intelligence

Current Use by Public Records

Theaters & concert halls

Suggested Use

Location Insight

Map
Local Demand

City: Miami Beach
County: Miami-Dade
State: Florida
Longitude: -80.120252
Latitude: 25.834097

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For sale
Theaters & concert halls
FL
Miami Beach
33140
5445 Collins Ave CU1

What type of property is this?

Theater & concert hall - 25,860 SF Miami Beach space for visionary development.

Where is this theater & concert hall located?

The property is located at 5445 Collins Ave CU1 Miami Beach, FL.

What is the asking price?

The asking price for this property is $6,500,000.

What are key features of this property?

This property features: Premier "blank canvas" opportunity in Miami Beach's Mid‑Beach corridor, allowing for a visionary development.; Substantial 25,860 sq ft interior space with triple‑level layout, soaring ceilings, and massive open floor plates.; Unique suitability for a flagship nightclub, live‑performance theatre, or movie theatre due to expansive vertical clearance and existing stage infrastructure.