Commercial Real Estate Market in Coral Gables, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
298 active listings and 2,023 off-market properties in Coral Gables, FL. Commercial property asks $436/SF to buy and $36.84/SF/Yr to lease.
Market Trends
Coral Gables, FL spans 42.6 square miles in Miami-Dade County, Florida. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Coral Gables, FL runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Coral Gables, FL runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Coral Gables, 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 Coral Gables, 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
Coral Gables, FL has 220,462 residents in 95,422 households. Density runs 5,178 people per square mile. Median household income here is $95,351 and median gross rent $1,962 a month.
220,462
Population
95,422
Households
2.3
Avg Household Size
43
Median Age
56%
College-Educated
92%
High-School Grad
42.6 sq mi
ZIP Area
5,178
Density / Sq Mi
$95,351
Median Household Income
$52,873
Median Earnings
$1,962
Median Rent
$782,904
Median Home Value
Tools
Lease vs Buy Breakeven
At $36.84/SF/Yr lease vs $436/SF buy → buying wins if held > 2 years.
The comparison uses county-wide sale comps against Coral Gables asking rents, so the implied 8.4% 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 |
|---|---|---|
| Doral | $436 (county avg) | $31.04 |
| Pinecrest | $436 (county avg) | — |
| South Miami | $436 (county avg) | $45.75 |
| Key Biscayne | $436 (county avg) | — |
Commercial property in Coral Gables, FL asks $436/SF. The 4 bordering markets run from $436/SF in Doral to $436/SF in Doral, 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 Coral Gables?
Commercial property in Coral Gables, FL asks an average of $436 per square foot. The 6 most recent recorded sales traded at a median of $1,893/SF. Multifamily carries the highest asking price at $429/SF.
How much does it cost to lease commercial space in Coral Gables?
Asking lease rates in Coral Gables, FL average $36.84 per square foot per year.
Is it cheaper to lease or buy commercial space in Coral Gables?
Buying beats leasing in Coral Gables, FL if the property is held longer than 2.0 years, comparing $36.84/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 Coral Gables compare to nearby markets on price?
Coral Gables, FL asks $436/SF against $436/SF in Doral, $436/SF in Pinecrest, $436/SF in South Miami and $436/SF in Key Biscayne.
Where does Realmo's Coral Gables market data come from?
Realmo compiles Coral Gables, FL figures from 6 recent recorded sales, 161 active sale listings, 137 active lease listings, 2,023 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 161 active for-sale and 137 active for-lease listings in Coral Gables, 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
