On average, listings lease in the $40's per square foot per year. The Miami Financial District region is going through a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 8% decline in rent.
Compared to the rest of the Gold Coast market, the Miami Financial District submarket 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 come on the market, which means office spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 239% of the available leases in the Miami Financial District 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,330 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are around 28 floors. Most buildings in this market were built in 1984 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this region. Most of the residents of Miami Financial District work from home. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.