Property Pricing:

The city continues to thrive in the downtown districts, with a major focus on high-rise construction, and commercial real estate development in the city centers. The downtown area has been given a lot of upgrades, including several commercial, retail, and residential options that have been specifically working towards stability. The area has a great deal of office space for entrepreneurs of all types to take advantage of. In a recent search of available Miami commercial property, warehouse, and office spaces, the city featured many low cost options in prime locations starting at around $350 a month for smaller spaces and larger retail storefronts and Miami commercial office spaces at around $1 - $2 a square foot for 1,000 square feet. Many offices are equipped with great amenities like temperature controlled storage, retail adjacent and much more, for a relatively low cost or included with a short term and long term lease. We also have commercial properties for rent in Orlando and Tampa Bay.
The major city of Miami is one of the larger destinations in the state. It is the most populated city in the state and is a central hub for the greater south Florida metropolitan area. The estimated population of the city is 362,470 in the city center and upwards of 5.4 million residents in the greater metropolitan area. The city has a rich diverse culture, and receives a lot of attention in regards to sports, culture, cuisine, and entertainment.

Miami Economy:

The economic outlook of Miami hinges on a variety of different industries. The city has major commerce, finance, and international businesses that make up the community. The area is home to some of the largest corporations in the nation, with many servicing the tourist industry, which is a major part of the overall portrait of the city. Some of the larger companies that call Miami home include Arrow Air, Carnival Corporation, CompUSA, Perry Ellis International, Lennar, Norwegian Cruise Lines, and many others. Even though there is a large amount of employment options, the unemployment rate of Miami hovers around 12%, which is higher than the national average. Although the economic outlook is optimistic, the area isn’t quite out of the economic problems that have been hurting the national economy since the recession of 2009. To learn more about Miami commercial real estate and other cities in Florida, check out our commercial property article section. The greater Miami area receives a tropical monsoon climate. The area gets relatively hot and humid, and has shortened winters. The area is located just north of the Tropic of Cancer and is close to the Gulf Stream, which moves the climate into a warmer, more tropical status. While there are some milder months, the cold really doesn’t become too extreme, with no snowfall, and relatively god temperature climate changes through the seasons.

Real Estate:

Real estate options in the greater south Florida metropolitan area has seen fluctuations in contrast to the national economic downturn of recent years. Despite the drop in value in many locations, the Miami area has a median home price of $244604. The real estate market looks to be improving as the months go on. Even though the commercial real estate market is unique - when compared to the residential market -they are attached and when Miami commercial properties are vacant, it's usually a direct response to a bad housing market. The mayor of Miami is Carlos Alvarez and is a Republican. Alvarez has a long-standing political tradition, and is relatively conservative, compared to the area’s more liberal tendencies. Originally born in Cuba, Alvarez moved to the United States and started a political career after many years working with the Miami Police Department. The area continues to thrive with his leadership, despite many national crises, including a recent oil spill in the Gulf of Mexico.