Compared to the rest of the Metropolitan Los Angeles market, the Miracle Mile submarket has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 4 listings have been listed, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. About 50% of the available space in the Miracle Mile are subleases, so you might be able to snag a great spot on a short term. 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 6,380 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are around 10 floors. Most buildings in this area 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. Construction is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Miracle Mile residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.