On average, listings lease in the $50's per square foot per year. The Allapattah submarket is seeing a an increase in rates. In the last 3 months, the median rate rose $20 per sqft per year. That's a 50% rise in rent.
Compared to the rest of the Gold Coast market, the Allapattah submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 1 listings have been posted online, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 6,860 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are approximately 6 floors. Most buildings in this region were built in 1985 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Allapattah residents. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.