On average, listings lease in the $40's per square foot per year. The Coral Gables Section submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $9 per sqft per year. That's a 16% decline in rent.
Compared to the rest of the Gold Coast market, the Coral Gables Section region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 5 listings have been listed, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 400% of the listings in the Coral Gables Section are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 6,320 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are approximately 11 floors. Most buildings in this region were built in 1980 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Professional services is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Coral Gables Section folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.