MIAMI—The iconic Conrad Miami hotel is up for sale. CBRE Hotels is representing the seller of the 203-room luxury hotel. The Conrad Hotel sold for $65 million in 2004.

Located at 1395 Brickell Avenue, the hotel sits at the highest-profile street in the Miami's business and financial district. The hotel is in the landmark Espirito Santo Plaza, recognized for its concave figural arch representing the gateway to Latin America.

“It's rare that an asset of this caliber on Brickell Avenue, Miami's most prominent business address, becomes available,” Paul Weimer, CBRE Hotels, tells GlobeSt.com. “And timing for a sale is ideal with financing for hotels again available from a range of lenders. We expect a very competitive bidding environment.”

Fronting the premier street at the epicenter of Miami's business and financial district, the hotel has about 20,000 square feet of meeting space, a spa and fitness center, the Atrio restaurant, and The Bar at LvL 25, which offers views of the Miami skyline, two outdoor tennis courts with bay views, and a rooftop pool and whirlpool. Conrad Miami is part of a landmark tower that includes office, retail, and luxury residences.

“Miami's hospitality market is one of the strongest in the nation, with the average daily lodging rate outpacing cities such as San Francisco and Boston,” says Charre, a senior vice president of CBRE Hotels. “In addition to its attributes as a luxury hotel, this singular property's architectural character and location combine to make it a focal point of one of the world's most dynamic financial districts—and a once-in-a-lifetime investment opportunity to acquire this trophy asset.”

Conrad Miami is close to attractions like Bayside, American Airlines Arena, Miami Tower, Port of Miami, and Mary Brickell Village. Surrounded by nearly 15 million square feet of class A office space and with accessibility from Interstate 95, the property is also less than one block from the Financial District Metromover station and close to Miami's most upcoming large scale, mixed-use developments, including the massive $1.05 billion Brickell City Centre, which opens later this year, Miami Worldcenter and Resorts World Miami.

Hotels are certainly a hot commodity in South Florida. The Ritz-Carlton sale earlier this month was especially telling. Another hotel sale reflected Dadeland's renaissance and a Swiss hotel investor recently scored a $50 million refi loan with Total Bank.