The typical asking rate per listing is in the $50's per square foot per year. The Flamingo-Lummus submarket is seeing a an increase in rates. In the last 3 months, the median rate rose $13 per sqft per year. That's a 35% increase in rent.
Compared to the rest of the Gold Coast market, the Flamingo-Lummus region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 2 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 50% of the office spaces in the Flamingo-Lummus 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 4,690 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are around 4 floors. Most buildings in this area were built in 1953 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this region. Commute by taxi is the most popular way to get to work amongst Flamingo-Lummus residents. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.