An historic mixed-use property in Downtown Miami has been brought to market, offering investors a recently renovated asset with established hospitality and office components. The property at 200 E. Flagler totals 52,500 square feet and is being marketed for sale with an asking price of $33 million. Avenue Real Estate Partners has the listing assignment for the asset.
Originally constructed in 1937 and renovated in 2024, the building combines legacy architecture with updated infrastructure across multiple income-generating areas. The property is organized across five primary floors plus a basement and rooftop, and is governed by T6-80-O zoning, supporting a mix of uses within the urban core setting.
The ground floor is anchored by an 8,296-square-foot food hall, positioned as the property’s main street-level activation. Above, the second and third floors together provide 14,195 square feet configured with hospitality infrastructure, including kitchens, bars, and restrooms, supporting food and beverage or entertainment concepts. This existing buildout enables near-term operation for users focused on hospitality-driven offerings.
The fourth floor comprises 8,508 square feet of unfinished space, presenting a blank slate for future development or repositioning in line with tenant demand. The fifth floor spans 8,220 square feet and currently features completed office and coworking improvements, creating move-in-ready options for office or flexible workspace users seeking a Downtown Miami location.
At the top of the building, the 6,316-square-foot rooftop is designated for SALVAJE, described as a Japanese fire kitchen, adding a destination-oriented dining and entertainment element to the property. Below grade, the 7,048-square-foot basement houses the JOLENE entertainment concept along with a commissary kitchen, further reinforcing the asset’s hospitality and nightlife focus.
The property’s configuration across multiple levels and uses is highlighted as offering opportunities to enhance net operating income through lease-up of available space, repositioning of existing tenants, and refinement of rental structures. The marketing also notes additional upside potential from a pending 10-year property tax abatement, which, if realized, could improve operating performance over the medium term.
With its combination of historic character, recent renovation work, hospitality-ready infrastructure, and a mix of leased, improved, and raw spaces, the 200 E. Flagler asset is being presented as a flexible platform for investors targeting food hall, entertainment, office, and rooftop dining demand in Downtown Miami.
