- Mila in Miami Beach topped the 2025 Restaurant Business Top 100 Independents list with $51.1M in revenue, surpassing Joe’s Stone Crab, which slipped to third.
- 15 South Florida restaurants made the national ranking — up from 11 last year — as the region sees a surge in high-revenue dining establishments.
- Retail rents near $100/SF in prime locations and rising meal prices are fueling the shift, with average meals at top restaurants like Mila and Joe’s costing $188 and $120, respectively.
A New Dining Leader In Town
Mila in Miami Beach is now the highest-grossing independent US restaurant, per Restaurant Business 2025 rankings, reports TheRealDeal. With $51.1M in annual revenue, the Mediterranean venue overtook long-time leader Joe’s Stone Crab, which brought in $47.6M this year.
Owned by Gregory Galy and Marine Giron-Galy, Mila is located in a 13K SF rooftop space at 1636 Meridian Avenue. The restaurant also offers an exclusive private members club, contributing to its hefty average meal cost of $188.
South Florida’s Fine Dining Boom
The 2025 Top 100 Independents list features 15 South Florida restaurants, marking a four-restaurant jump from last year. The region’s dominance reflects the area’s shift toward upscale, high-revenue dining venues, where food-and-beverage tenants often pay close to $100 PSF for premium locations.
Other Miami standouts include:
- Komodo Miami at No. 26 with $23.1M in revenue
- Gekko Miami at No. 52 with $17.3M
- Papi Steak at No. 64 with $15M
All three are operated by Groot Hospitality, the Miami-based group led by David Grutman.
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Not Just Glitz — It’s Getting Pricey
The high revenues reflect not only successful operations but also the rising cost of dining out in Miami, which now surpasses metros like New York, LA, and Chicago. A typical mid-range, three-course meal in Miami averages $60 — but at Mila or Joe’s, expect to spend two to three times more.
Despite high demand, challenges remain. Hospitality consultant Felix Bendersky noted the market’s tough conditions: “We saw a lot of restaurants close… The ones that made the list are all part of fantastic groups that are the best at what they do.”
Why It Matters
South Florida’s restaurant scene has become a barometer for luxury hospitality success, with top performers generating tens of millions in revenue — but only a few can meet the profit expectations tied to Miami’s sky-high rents. As Bendersky puts it, “There is no in-between.”
What’s Next
With demand for luxury experiences growing and developers seeking high-performing food-and-beverage tenants, expect more ultra-high-end dining concepts to rise in Miami and beyond. The pressure is on for restaurateurs to deliver not just great food, but big numbers.
