On average, listings lease in the $40's per square foot per year. The Miami Central Business District submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $42 per sqft per year.
Compared to the rest of the Gold Coast market, the Miami Central Business District region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 23 listings have been made available, which means leases are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 417% of the available space 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 2,610 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are around 28 floors. Most buildings in this region were built in 1973 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Miami Central Business District residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.