Commercial Real Estate Market in Coconut Grove, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
4,641 active listings and 31,794 off-market properties in Coconut Grove, FL. Commercial property asks $436/SF to buy and $35.89/SF/Yr to lease.
Market Trends
Coconut Grove, FL spans 7.3 square miles in Miami-Dade County, Florida. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Coconut Grove, FL asks $41.37/SF/Yr to lease. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate % in South region
Retail
Retail vacancy in Coconut Grove, FL runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Coconut Grove, FL runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily space in Coconut Grove, FL asks $429/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Market overview
Demographics & Economy
Coconut Grove, FL has 50,609 residents in 24,023 households. Density runs 6,934 people per square mile. Median household income here is $103,140 and median gross rent $2,215 a month.
50,609
Population
24,023
Households
2.1
Avg Household Size
39
Median Age
66%
College-Educated
96%
High-School Grad
7.3 sq mi
ZIP Area
6,934
Density / Sq Mi
$103,140
Median Household Income
$52,660
Median Earnings
$2,215
Median Rent
$983,268
Median Home Value
Tools
Lease vs Buy Breakeven
At $35.89/SF/Yr lease vs $436/SF buy → buying wins if held > 2.1 years.
The comparison uses county-wide sale comps against Coconut Grove asking rents, so the implied 8.2% gross yield is computed off asking rents rather than a closed-deal cap-rate benchmark. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Coral Gables | $436 (county avg) | $35.06 |
| Doral | $436 (county avg) | $30.75 |
| Key Biscayne | $436 (county avg) | — |
| Pinecrest | $436 (county avg) | — |
Commercial property in Coconut Grove, FL asks $436/SF. The 4 bordering markets run from $436/SF in Coral Gables to $436/SF in Coral Gables, and the city sits in line with their $436/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in Coconut Grove?
Commercial property in Coconut Grove, FL asks an average of $436 per square foot. The 7 most recent recorded sales traded at a median of $552/SF. Multifamily carries the highest asking price at $429/SF.
How much does it cost to lease commercial space in Coconut Grove?
Asking lease rates in Coconut Grove, FL average $35.89 per square foot per year. Office asks $41.37/SF/Yr as of Q2 26, up from $35.29/SF/Yr in Q1 26.
Is it cheaper to lease or buy commercial space in Coconut Grove?
Buying beats leasing in Coconut Grove, FL if the property is held longer than 2.1 years, comparing $35.89/SF/Yr asking rent with $436/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
How does Coconut Grove compare to nearby markets on price?
Coconut Grove, FL asks $436/SF against $436/SF in Coral Gables, $436/SF in Doral, $436/SF in Key Biscayne and $436/SF in Pinecrest.
Where does Realmo's Coconut Grove market data come from?
Realmo compiles Coconut Grove, FL figures from 7 recent recorded sales, 3,086 active sale listings, 1,555 active lease listings, 31,794 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 3,086 active for-sale and 1,555 active for-lease listings in Coconut Grove, FL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Price per square foot
- The county-level $/SF blends closed sales aggregated over the trailing months of available data, not a single day's snapshot — it can differ from any one month's own median.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- the lease-vs-buy comparison mixes county-wide sale comps with city asking rents, office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
