On average, listings lease in the $50's per square foot per year. The Wynwood-Edgewater submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $16 per sqft per year. That's a 38% increase in rent.
Compared to the rest of the Gold Coast market, the Wynwood-Edgewater region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 13 listings have been made available, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 5,140 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are close to 2 stories. Most buildings in this market were built in 1972 and are Class B.
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 market. Commute by car is the most popular way to get to work amongst Wynwood-Edgewater occupants. Commuting around an hour a day is the norm for those who opt to reside in this part of town.