On average, listings lease in the $50's per square foot per year. The Northeast Coconut Grove submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $4 per sqft per year. That's a 8% rise in rent.
Compared to the rest of the Gold Coast market, the Northeast Coconut Grove region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 10 listings have been listed, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. 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 26,170 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are close to 4 stories. Most buildings in this market were built in 1982 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Northeast Coconut Grove folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.