On average, listings lease in the $50's per square foot per year. The Wynwood Arts District submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Gold Coast market, the Wynwood Arts District submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 3 listings have been listed, which means spaces most likley are 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 2,650 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are around 2 stories. Most buildings in this area were built in 2015 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Wynwood Arts District residents. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.