Most listings are in the $30's per square foot per year. The Northeast Coconut Grove submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $15 per sqft per year. That's a 29% decrease in rent.
Compared to the rest of the Gold Coast market, the Northeast Coconut Grove submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 10 listings have been listed, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. About 10% of the listings in the Northeast Coconut Grove are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,130 sqft. Most buildings in this area are around 4 stories. Most buildings in this area were built in 1982 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Northeast Coconut Grove folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.