The typical asking rate per listing is in the $40's per square foot per year. The Miami Central Business District submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $21 per sqft per year. That's a 33% decline in rent.
Compared to the rest of the Gold Coast market, the Miami Central Business District region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 23 listings have been posted online, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 17% of the listings in the Miami Central Business District are subleases, so you might be able to find a shorter term or below market rent. 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 2,790 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are approximately 28 floors. Most buildings in this region were built in 1973 and are Class B.
A large portion of this region is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Miami Central Business District occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.