Why Downtown Miami

Downtown Miami is the city’s historic commercial core, undergoing a major renaissance driven by residential development, transit connectivity, and urban revitalization projects.

From the Brightline station and MiamiCentral hub to the ongoing Flagler Street revitalization, Downtown is emerging as a prime retail destination for flagship stores, restaurants, and mixed-use concepts. With tens of thousands of new residents moving into nearby towers, Downtown retail demand is surging.

Market Snapshot (Q2 2025)

• Rents: Rents average $40–$70/SF NNN for inline retail, with flagship spaces on Flagler Street and Miami Worldcenter reaching $90–$120+/SF.

• Vacancy: Elevated compared to Brickell/Coral Gables due to ongoing redevelopment, but absorption is improving.

• Demand Drivers: Brightline/Metromover stations, Miami Worldcenter, Flagler Street upgrades, and cultural anchors (Adrienne Arsht Center, Pérez Art Museum).

• Trends: Growth in restaurants, experiential retail, and services to support new multifamily towers. Investors eye repositioning opportunities in older buildings.

Types of Downtown Retail

• Flagship spaces: along Flagler Street and Miami Worldcenter.

• Transit-oriented retail: adjacent to Brightline/MiamiCentral.

• Ground-floor mixed-use: in high-rise residential and office towers.

• Neighborhood retail: cafes, services, and lifestyle retail for new residents.

Location Advantages

• Flagler Street Revitalization: $100M+ redevelopment transforming Miami’s historic main street.

• Transit hub: Brightline, Metrorail, and Metromover connections drive consistent foot traffic.

• Miami Worldcenter: 27-acre mixed-use development adding luxury retail and residential.

• Urban density: Thousands of new apartments bring round-the-clock demand.

For Tenants

• Strategic guidance on flagship site selection.

• Access to retail opportunities near Brightline/Worldcenter.

• Negotiation of buildout allowances in redevelopment projects.

• Positioning your brand for Downtown’s long-term growth story.

For Owners & Investors

• Advisory on repositioning older retail assets for new demand.

• Attracting tenants from national and global brands.

• Evaluation of retail opportunities in mixed-use and transit projects.

• Comparative rent studies vs Brickell, Coral Gables, and Wynwood.

Key Corridors in Downtown Miami

• Flagler Street: undergoing complete revitalization into a pedestrian-friendly retail corridor.

• Miami Worldcenter: luxury retail + entertainment.

• MiamiCentral/Brightline hub: transit-oriented mixed-use retail.

• Biscayne Blvd: high-visibility corridor near museums and Bayside.

• Listings & Tours

  VIVA provides access to on-market and off-market retail opportunities in Downtown Miami — from flagship Flagler spaces to mixed-use retail in new towers.

  • Search Industrial Listings

  • Ask for Off-Market Deals

FAQs

Q1: What are retail rents in Downtown Miami?

A: Inline retail averages $40–$70/SF, while flagship spaces in Miami Worldcenter and Flagler can achieve $90–$120+/SF.

Q2: Who are typical tenants in Downtown?

A: Restaurants, services, experiential retailers, flagship stores, and national brands expanding into urban cores.

Q3: Why invest in Downtown Miami retail?

A: Transit connectivity, urban revitalization, and residential growth drive long-term retail demand.

Q4: How does Downtown compare to Brickell?

A: Downtown offers redevelopment upside + transit-driven retail, while Brickell is a more established luxury/corporate hub.