On average, listings lease in the $40's per square foot per year. The Miami Central Business District region is seeing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Gold Coast market, the Miami Central Business District submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 23 listings have been listed, which means office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 222% of the listings in the Miami Central Business District are subleases, so you might be able to find a shorter term or below market rent. 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 1,290 sqft. Most properties in this region are close to 28 floors. Most buildings in this region were built in 1973 and are Class B.
A large portion of this region is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Miami Central Business District folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.