Miami Commercial Mortgage Refinancing: 2026 Market Overview
Miami has emerged as one of the most dynamic commercial real estate markets in the country, driven by significant in-migration of both residents and businesses from higher-tax states, a booming financial services sector, and some of the most constrained industrial land supply on the East Coast. For commercial property owners, Miami’s strength creates both significant equity appreciation and strong lender competition — both of which work in your favor when refinancing.
Miami Commercial Real Estate by Property Type
Industrial/Warehouse: Miami-Dade industrial is among the tightest markets in the U.S. by vacancy. South Florida’s position as a gateway to Latin America, combined with severely limited developable land, has kept industrial fundamentals exceptionally strong. Lender appetite is intense — life companies, CMBS, debt funds, and banks all compete for quality Miami industrial. LTVs of 70–75% achievable; expect highly competitive rate execution.
Multifamily: Miami multifamily has seen strong rent growth and remains in high demand, though new luxury supply in Brickell, Edgewater, and downtown has created some softening at the high end. Workforce housing and suburban multifamily (Hialeah, Kendall, Doral) continues to perform extremely well with lenders. LTVs of 70–75%; broad lender competition across all categories.
Retail/Mixed-Use: South Florida retail with strong co-tenancy and high-traffic locations performs well. Wynwood, Little Havana, and Coral Gables mixed-use with proven retail tenancy attracts lender interest. Street-level retail in desirable Miami neighborhoods is well-received by life companies and CMBS.
Office: Miami’s office market has outperformed most U.S. cities due to financial services and tech migration. Brickell Class A office remains in demand. Suburban office has more typical vacancy challenges. Lenders are more willing to finance Miami office than in most other markets, though underwriting remains careful.
Frequently Asked Questions
Does flood insurance affect commercial lending in Miami?
Yes — properties in FEMA flood zones require flood insurance, which lenders factor into operating expenses and DSCR calculations. Properties in AE or VE flood zones face more conservative treatment from some lenders. This is a Miami-specific underwriting consideration that knowledgeable brokers navigate regularly.
Are foreign national borrowers able to get commercial loans in Miami?
Some lenders — particularly those with international portfolio programs — will lend to foreign national borrowers on Miami commercial properties. This is more common in South Florida than in most U.S. markets given the international buyer base. Requirements vary significantly by lender.
What’s driving strong lender interest in Miami industrial?
Extremely low vacancy (often under 3%), no land available for new development in core Miami-Dade, and strong trade flows through PortMiami and Miami International Airport combine to make Miami industrial among the most desirable collateral in the country for lenders.
How RefiLoop Helps Miami Property Owners
RefiLoop submits your Miami commercial deal to our 7,000+ lender network and returns 3–5 competing term sheets within 48 hours. We match your deal to the lenders most active in South Florida for your property type — including lenders who specialize in Miami’s international buyer base and unique market dynamics. No upfront fees. Paid at closing only.
About David Greenbaum
David Greenbaum is a commercial mortgage broker and co-founder of RefiLoop. He specializes in helping commercial property owners refinance maturing loans between $200K and $15M across Texas, Florida, Georgia, North Carolina, Ohio, and other priority markets. With hands-on experience in commercial bridge loans, debt fund financing, and conventional CRE refinancing, David helps borrowers find the right capital source for their situation — not just the easiest one.