On average, listings lease in the $60's per square foot per year. The South Miami submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $8 per sqft per year. That's a 14% increase in rent.
Compared to the rest of the Gold Coast market, the South Miami region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 3 listings have come on the market, which means leases are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 67% of the office spaces in the South Miami 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.
The standard measurement for office space in this area is around 2,030 sqft. Most buildings in this market are close to 3 stories. Most buildings in this region were built in 1980 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 car is the most popular way to get to work amongst South Miami folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.