The typical asking rate per listing is in the $10's per square foot per year. The Downtown Albany region is experiencing a decrease in rates. In the last 3 months, the median rate fell $16 per sqft per year. That's a 51% decline in rent.
In the last 90 days, 74 listings have come on the market, so you'll want to check back regularly for new listings. About 3% of the available space in the Downtown Albany are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,500 sqft. Most properties in this region are approximately 5 stories. Most buildings in this area were built in 1927 and are Class A.
This region is fairly equally mixed residential and commercial. Waste services is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Downtown Albany residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Downtown Albany.
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