On average, listings lease in the $30's per square foot per year. The Flagami submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 6% decline in rent.
Compared to the rest of the Gold Coast market, the Flagami region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 5 listings have been listed, which means new listings most likley are going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,930 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are close to 2 stories. Most buildings in this market were built in 1985 and are Class B.
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 market. Commute by walking is the most popular way to get to work amongst Flagami occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.