The typical asking rate per listing is in the $30's per square foot per year. The Progresso Village submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 17% decrease in rent.
Compared to the rest of the Gold Coast market, the Progresso Village submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 4 listings have been made available, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 500 sqft. Most buildings in this region are around 2 floors. Most buildings in this area were built in 1975 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Progresso Village occupants. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.