The typical asking rate per listing is in the $40's per square foot per year. The Miami Central Business District submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Gold Coast market, the Miami Central Business District region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 23 listings have been made available, which means leases are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 265% of the available leases in the Miami Central Business District 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,520 sqft. Most buildings in this area are close to 14 floors. Most buildings in this region were built in 1973 and are Class B.
A large portion of this market is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Miami Central Business District residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.