Inside Coconut Grove’s booming restaurant scene

A special report from The Real Deal — Landlords capitalized on one of Miami’s hottest retail markets, but rising lease rates priced out and remixed neighborhood favorites

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July 16, 2026 5:32pm EDT

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Jul 16, 2026

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Retail rents in Coconut Grove have more than doubled over the past decade

The area once seen as a bohemian enclave evolved into one of Miami’s hottest dining scenes — but it came at a cost.

Restaurants that helped transform the neighborhood into a dinner destination are facing average direct asking retail rents of more than $110 per square foot.

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Inside Coconut Grove’s booming restaurant scene

A special report from The Real Deal — Landlords capitalized on one of Miami’s hottest retail markets, but rising lease rates priced out and remixed neighborhood favorites

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