On average, listings lease in the $40's per square foot per year. The Miami Central Business District submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $21 per sqft per year. That's a 33% decline in rent.
Compared to the rest of the Gold Coast market, the Miami Central Business District region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 23 listings have been listed, which means spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 17% of the listings in the Miami Central Business District are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 2,790 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 28 floors. Most buildings in this market were built in 1973 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Miami Central Business District folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.