On average, listings lease in the $40's per square foot per year. The Northeast Coconut Grove submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $91 per sqft per year. That's a 69% decrease in rent.
Compared to the rest of the Gold Coast market, the Northeast Coconut Grove submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 10 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. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,590 sqft. Most properties in this region are close to 4 floors. Most buildings in this area were built in 1982 and are Class A.
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 region. Commute by bike is the most popular way to get to work amongst Northeast Coconut Grove folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.