What are median sale prices per square foot in Downtown Miami (ZIPs 33128, 33132)?

ZIP 33132: $563 on 7 sales. A median mixes property types and ages, so compare the building to similar recorded sales.

How many bank REO transfers appear in the sales data for Downtown Miami (ZIPs 33128, 33132)?

ZIP 33128: 0, with 0 arm’s-length sales; ZIP 33132: 6, with 7 arm’s-length sales. The count shows what was recorded, not what is for sale today.

Who owns commercial property in Downtown Miami (ZIPs 33128, 33132)?

ZIP 33128: 85.8% held by entities, 6.1% out-of-state owners; ZIP 33132: 91.5% held by entities, 8.1% out-of-state owners. To reach an owner, you may need an entity’s registered agent or a mailing address outside Florida.

How old are commercial buildings in Downtown Miami (ZIPs 33128, 33132)?

Median year built: ZIP 33128: 1956; ZIP 33132: 1986. Age alone doesn’t set condition, so check the roof, HVAC and electrical systems and their records.

What is the average building area per parcel in Downtown Miami (ZIPs 33128, 33132)?

11.7 million SF ÷ 1,170 parcels ≈ 9,957 SF. An average can hide a few very large buildings.

Hypothetical: a 10,000 SF building in Downtown Miami priced at the ZIP 33132 median of $563 per SF. What is the price?

10,000 × $563 = $5.63 million. That is arithmetic on a median, not an appraisal or an opinion of value.

Same hypothetical 10,000 SF building, with an assumed 7.5% cap rate. What NOI would $5.63 million need?

$5.63 million × 7.5% = $422,250 a year. The cap rate is an assumption for practice, so check the actual rent roll and expenses.

With $422,250 of NOI, what is the most annual debt service an assumed 1.25 DSCR allows?

$422,250 ÷ 1.25 = $337,800 a year. Lender terms vary, so treat 1.25 as an example.

About how many industrial parcels are in Downtown Miami (ZIPs 33128, 33132)?

ZIP 33128: 8.5% of 246 ≈ 21; ZIP 33132: 1.2% of 924 ≈ 11.

Civic Core, Arena & Port · Miami-Dade County

Downtown MiamiCommercial Real Estate Broker & Market Guide

Downtown Miami is the county's civic and cultural core: the courthouses and government center, the Kaseya Center arena, Bayfront Park, the Brightline MiamiCentral station and the gateway to PortMiami. It mixes older office stock with new residential towers.

Marketed by Michael R. Linton, Florida Broker #BK703722 · NCREA · CREIPS · REALTOR® · Serving Downtown Miami commercial real estate.

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By the numbers · data as of November 7, 2026

Downtown Miami commercial real estate by the numbers

The 2026 final tax roll lists 1,170 commercial and industrial parcels with 11.7 million square feet of buildings in Downtown Miami (ZIPs 33128, 33132), with 7 arm’s-length sales on the roll. ZIP 33132 has a median sale price of $563 per square foot; the other ZIP has too few sales to report a median.

Commercial and industrial parcels

1,170

2026 final tax roll

Building square feet

11.7M

2026 final tax roll

Arm’s-length sales

on the roll sales file, excluding hotels

Median $/SF

$563

ZIP 33132 only

ZIP	Parcels	Bldg SF	Sales	Median $/SF	Median year built	Out-of-state owners	Bank REO
33128	246	1.3M	0	—	1956	6.1%	0
33132	924	10.4M	7	$563*	1986	8.1%	6

For context, Miami-Dade County as a whole has a median of $373 per square foot on 1,278 sales. Year to date through September 2026, the county median is $378, +3.0% from a year earlier.

Miami-Dade County Market Pulse

Asking-side listing data for every Florida county: inventory, days on market, price cuts and listing prices, from Realtor.com® Economic Research. These are listings, not closed sales.

Miami-DadeCounty · details →
Active listings
17,010
down −7.9% YoY
Median days on market
87 days
Listings with price cuts
12.9%
Median listing $/SF
$458
Listing price, YoY
down −1.3%
Median listing price $589K
Market condition
Balanced
vs. Florida statewide^*
Source: Realtor.com® Economic Research, September 2026.

How these figures are calculated

* Market condition. Market condition compares a county's share of active listings with a price reduction and its median days on market with the Florida statewide figures Realtor.com publishes for the same month. Both above the statewide figure: leaning buyer's market. Both below: leaning seller's market. Anything else, including a tie or one missing metric: balanced. Both metrics missing, or no statewide figure for that month: shown as —. This is a read of asking-side listing data only; it is not months of inventory or a measure of closed sales. Florida statewide, September 2026: 20.1% of listings with a price cut, 81 median days on market. Methodology · Data dictionary

Residential. Realtor.com® Economic Research, monthly. Listing counts, days on market and listing prices come from the monthly history; price-cut share and $/SF are stored for the latest month (September 2026) only. Earlier months show the snapshot for that month, not an average. YoY compares a month with the same month a year earlier; for September 2026 it uses Realtor.com's published YoY figures.

Commercial. Florida Department of Revenue tax roll (NAL/SDF) and Florida Department of State (Sunbiz), via LGData; Linton Global calculations. Commercial (DOR 010-039) and industrial (040-049) parcels. Sales and $/SF = arm's-length single-parcel sales (DOR qualification codes 01-02) on the current roll, excluding hotels/motels (DOR 039, which in resort counties includes condo-hotel and vacation-rental units). Areas with fewer than 5 parcels, and $/SF medians from fewer than 5 sales, are suppressed.

The full Miami-Dade County report

Study mode · 10 flash cards

Downtown Miami Commercial Real Estate

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This market in numbers

How much commercial property is in Downtown Miami (ZIPs 33128, 33132)?: The 2026 final tax roll lists 1,170 commercial and industrial parcels with 11.7 million square feet of buildings.
What are median sale prices per square foot in Downtown Miami (ZIPs 33128, 33132)?: ZIP 33132: $563 on 7 sales. A median mixes property types and ages, so compare the building to similar recorded sales.
How many bank REO transfers appear in the sales data for Downtown Miami (ZIPs 33128, 33132)?: ZIP 33128: 0, with 0 arm’s-length sales; ZIP 33132: 6, with 7 arm’s-length sales. The count shows what was recorded, not what is for sale today.
Who owns commercial property in Downtown Miami (ZIPs 33128, 33132)?: ZIP 33128: 85.8% held by entities, 6.1% out-of-state owners; ZIP 33132: 91.5% held by entities, 8.1% out-of-state owners. To reach an owner, you may need an entity’s registered agent or a mailing address outside Florida.
How old are commercial buildings in Downtown Miami (ZIPs 33128, 33132)?: Median year built: ZIP 33128: 1956; ZIP 33132: 1986. Age alone doesn’t set condition, so check the roof, HVAC and electrical systems and their records.

Work the numbers

What is the average building area per parcel in Downtown Miami (ZIPs 33128, 33132)?: 11.7 million SF ÷ 1,170 parcels ≈ 9,957 SF. An average can hide a few very large buildings.
Hypothetical: a 10,000 SF building in Downtown Miami priced at the ZIP 33132 median of $563 per SF. What is the price?: 10,000 × $563 = $5.63 million. That is arithmetic on a median, not an appraisal or an opinion of value.
Same hypothetical 10,000 SF building, with an assumed 7.5% cap rate. What NOI would $5.63 million need?: $5.63 million × 7.5% = $422,250 a year. The cap rate is an assumption for practice, so check the actual rent roll and expenses.
With $422,250 of NOI, what is the most annual debt service an assumed 1.25 DSCR allows?: $422,250 ÷ 1.25 = $337,800 a year. Lender terms vary, so treat 1.25 as an example.
About how many industrial parcels are in Downtown Miami (ZIPs 33128, 33132)?: ZIP 33128: 8.5% of 246 ≈ 21; ZIP 33132: 1.2% of 924 ≈ 11.

Source: Florida Department of Revenue tax roll and Florida Department of State, via LGData; Linton Global calculations. Commercial and industrial parcels; sales are arm’s-length, single-parcel transfers, excluding hotels and motels. Medians from fewer than 5 sales are not shown, and a small sample can swing a ZIP median, so read each one with its sales count. * Fewer than 10 sales.

Live market data · refreshed as each source publishes

Downtown Miami: key facts for September 2026

In September 2026, the median listing price in Miami-Dade County was $589K, down 1.3% from a year earlier, with 17,010 homes for sale (Realtor.com).
FHFA’s house price index for Miami-Dade County rose 2.8% in 2025.
Investors took out 19.8% of home-purchase mortgages in Miami-Dade County in 2025 (HMDA; cash purchases not included).
Miami-Dade County had 1,276,535 jobs (2025 annual average), up 1.5% from the prior year (BLS QCEW).
The unemployment rate was 1.9% in September 2026 (BLS, not seasonally adjusted).
Permits were issued for 8,775 housing units in January–September 2026, down 19.9% from the same months a year earlier (U.S. Census Bureau).

Open the Miami-Dade County market report →Miami-Dade County data & trends Explore on the Market Map

ZIP code snapshot for Downtown Miami

Listing data for September 2026 (Realtor.com) · HUD Fair Market Rent FY2027. *Share of home-purchase mortgages for investment property (2025, HMDA, estimated from census tracts; cash purchases not included). Open any ZIP for its full report.

ZIP	Area	Median list price	vs. last year	Homes for sale	HUD 2BR rent	Investor share*
33128	Miami	$521K	+66.4%	65	$2,120/mo	91.7%	Report →
33132	Miami	$627K	−3.4%	823	$3,850/mo	63.6%	Report →

Sources: Realtor.com® Economic Research, FHFA, U.S. Bureau of Labor Statistics, U.S. Census Bureau. County-level figures; informational only, not an appraisal.

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Downtown Miami: Market Overview

Government, courts and the professional firms that serve them anchor Downtown office demand. Much of the office stock is older than Brickell’s, which creates both vacancy pressure and redevelopment opportunity.

Brightline’s MiamiCentral station links Downtown to Fort Lauderdale, West Palm Beach and Orlando, and Metrorail and Metromover tie it to the rest of the county. PortMiami’s cruise traffic passes through every week.

Residential towers along Biscayne Boulevard and the Arts & Entertainment District have added thousands of residents, which supports ground-floor retail, restaurants and services.

Economic Drivers

Government & Courts

County, state and federal offices and courts

Brightline MiamiCentral

Intercity rail to Fort Lauderdale, West Palm Beach and Orlando

PortMiami

Cruise passengers and port operations

Arts & Entertainment

Kaseya Center, Adrienne Arsht Center and Pérez Art Museum

Residential Growth

New towers along Biscayne Boulevard

Asset Class Activity in Downtown Miami

Asset Class	Activity	Market Commentary
Office	Mixed	Government and legal demand; older towers face vacancy and conversion questions
Multifamily	Strong	High-rise rentals and condos in the Arts & Entertainment District
Retail	Mixed	Street retail depends heavily on the block and foot traffic
Hospitality	Strong	Cruise, events and business travel

Why Invest in Downtown Miami?

Downtown offers a lower basis than Brickell, transit and rail access, and redevelopment potential in older buildings. It is a natural place for distressed office and retail to surface.

Frequently Asked Questions

Is Michael R. Linton a licensed commercial real estate broker in Downtown Miami?

Yes. Michael R. Linton is a Florida-licensed commercial real estate broker (FL Broker #BK703722) with 39 years of transaction experience, serving Downtown Miami and the broader Miami-Dade County market. He holds NCREA (National Commercial Real Estate Advisor), CREIPS (Certified Real Estate Investment Property Specialist), and REALTOR® credentials, and advises investors, owners, and tenants on multifamily, office, industrial, retail, hospitality, land, mixed-use, medical office, self storage, and special-purpose commercial real estate in Downtown Miami.

How do I contact a commercial real estate broker in Downtown Miami?

Contact Michael R. Linton at Linton Global Solutions — (312) 612-1031 or mike@lintonglobal.com — for a free Downtown Miami commercial real estate consultation. Linton Global Solutions serves Downtown Miami across all major asset classes and represents both buy-side and sell-side principals, plus 1031 exchange replacement-property sourcing.

Is Downtown Miami office cheaper than Brickell?

Generally yes. Downtown has more older office stock and government tenants, so average rents and sale prices run below Brickell’s newer towers.

Where do distressed and REO commercial properties show up in Downtown Miami?

Most often in older office buildings and street-level retail with high vacancy. They usually reach the market through lender dispositions, note sales and foreclosure auctions run by the Miami-Dade Clerk, and many trade before they are ever listed.

Who can help with Downtown Miami commercial real estate?

Michael R. Linton, Florida Broker #BK703722, and Linton Global Solutions advise on Downtown Miami acquisitions, dispositions, financing and bank-owned (REO) and distressed commercial property. Our Miami-Dade numbers come from LGData, our database of Florida Department of Revenue tax-roll records.