Most listings are in the $30's per square foot per year. The Palmetto Bay submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $17 per sqft per year. That's a 76% rise in rent.
Compared to the rest of the Gold Coast market, the Palmetto Bay region has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 2 listings have been listed, which means leases most likley are going fast. You'll want to be prepared to make an offer immediately. About 50% of the listings in the Palmetto Bay 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 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 2,000 sqft. Most buildings in this region are approximately 3 stories. Most buildings in this market were built in 1988 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Palmetto Bay occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.