On average, listings lease in the $60's per square foot per year. The Miami Central Business District submarket is seeing a an increase in rates. In the last 3 months, the median rate rose $11 per sqft per year. That's a 20% rise in rent.
Compared to the rest of the Gold Coast market, the Miami Central Business District submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 23 listings have been made available, which means new listings are probably going fast. You'll want to be prepared to make an offer immediately. About 9% of the office spaces in the Miami Central Business District 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.
Even though the median size is 3,440 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are approximately 28 floors. Most buildings in this region were built in 1973 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Miami Central Business District occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.