Miami Lakes Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $31.07 2024 Avg. Asking Rent
  • -2.10% Y-o-Y Avg. Asking Rent Change
  • 14.60% 2024 Office Vacancy Rate
  • $32.8M2024 Total Office Sales
  • $195.22Avg. Sale Price/SF

Miami Lakes office price per square foot in 2024 was $31.07 on average. This marked a -2.10% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 14.60% across all asset classes combined. The 3 transactions that closed here throughout 2024 amounted to a total sale volume of $32.8M. Miami Lakes office space commanded an average sale price per square foot of $195.22.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Florida Class A & A+ Office Space$40.20
  • Florida Class B Office Space$27.71
  • Florida Class C Office Space$22.62

Miami Lakes, FL Office Asking Rents by Class

2024 Office Vacancy Rates in Miami Lakes

Submarket Asking Rents Vacancy Rates
Miami Gardens $38.26 25.73%
Hialeah $31.19 14.71%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Miami Lakes market was 14.60% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Miami Lakes was 14.71% in the Hialeah submarket, while the highest office vacancy in the market was 25.73%, recorded in Miami Gardens.

Office Spaces for Rent in Florida

Miami Lakes Office Sale Price per SF

  • $195.222024 Avg. Price per SF
  • 38.41%Y-o-Y Avg. PpSF Change
  • $32.8M2024 Office Sales Volume
  • 32024 Number of Transactions

Miami Lakes, FL Sale Price per SF Trend

  • Miami Lakes Avg. Sale Price per SF in 2024$195.22
  • Florida Avg. Sale Price per SF in 2024$221.95
Miami Lakes office space cost in 2024 marked a +38.41% change compared to the previous year. The sale price for office space in Miami Lakes averaged $195.22 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Florida average office sale price during the same time period was $221.95 per square foot.

2024 Office Sales Volume

  • Miami Lakes, FL Total Office Sales Volume in 2024 $32.8M
  • Miami Lakes, FL Total Number of Office Sales Closed in 2024 3
A total of 3 deals closed on the Miami Lakes office market in 2024, adding up to a yearly sales volume of $32.8M. Notably, the largest transaction on the market saw Miami Lakes Office Park change hands for $15,000,000 on 6/6/2024.
Data provided by Commercial Edge

Coworking Spaces in Florida

2024 Office Construction in Miami Lakes, FL

Largest Office Properties Recently Completed in Miami Lakes
Office building Address SF Completed
Town Center - Crescent Pointe 15121 NW 67th Avenue, 33014 37,031 2018
Miami Lakes Office Park 14400 NW 77th Court, 33016 51,700 2002
15280 NW 79th Court 15280 NW 79th Court, 33016 75,183 1990
14411 Commerce Way 14411 Commerce Way, 33016 42,000 1987
14505 Commerce Way 14505 Commerce Way, 33016 65,000 1985
14100 Palmetto Frntg Rd 14100 Palmetto Frntg Rd, 33016 688 1983
5881-5901 Northwest 151st Street 5881 Northwest 151st Street, 33014 62,000 1974
Miami Lakes Office Center 6001 NW 153rd Street, 33014 52,000 1973

Worth noting among recent office completions on the Miami Lakes market is Town Center - Crescent Pointe, which is currently the largest new office development in the city, at 37,031 square feet.

Data provided by Commercial Edge

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Miami Lakes commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.