On average, listings lease in the $50's per square foot per year. The Miami Central Business District submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $20 per sqft per year. That's a 60% increase in rent.
Compared to the rest of the Gold Coast market, the Miami Central Business District region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 28 listings have been posted online, which means office spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 4% of the office spaces in the Miami Central Business District are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,450 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are around 28 floors. Most buildings in this region 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 region. Commute by walking is the most popular way to get to work amongst Miami Central Business District occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.