On average, listings lease in the $40's per square foot per year. The Miami Financial District submarket is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Gold Coast market, the Miami Financial District submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 23 listings have been listed, which means office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 213% of the available space in the Miami Financial 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,610 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this region are close to 27 floors. Most buildings in this region were built in 1984 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this market. Most of the residents of Miami Financial District work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.