On average, listings lease in the $30's per square foot per year. The Flagler Heights region is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decrease in rent.
Compared to the rest of the Gold Coast market, the Flagler Heights region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 11 listings have been listed, which means new availabilities might be going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 5,220 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are approximately 3 stories. Most buildings in this region were built in 1971 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this area. Most of the residents of Flagler Heights work from home. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.