On average, listings lease in the $50's per square foot per year. The Flamingo-Lummus region is going through a a boost in rates. In the last 3 months, the median rate went up $13 per sqft per year. That's a 35% increase in rent.
Compared to the rest of the Gold Coast market, the Flamingo-Lummus submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 1 listings have come on the market, which means new listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 820 sqft. Most properties in this market are approximately 4 stories. Most buildings in this region were built in 1953 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Flamingo-Lummus residents. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.