On average, listings lease in the $40's per square foot per year. The Miami Financial District region is seeing a a rise in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Gold Coast market, the Miami Financial District region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 23 listings have been listed, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 17% of the available leases in the Miami Financial District 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,380 sqft. Most properties in this area are approximately 27 floors. Most buildings in this region were built in 1984 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this market. Most of the residents of Miami Financial District work from home. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.