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On average, commerial real estate listings lease in the $10's per square foot per year. The Salem Village submarket is going through a a rise in rates. In the last 3 months, the median rate for lease rose $15 per sqft per year.
Compared to the rest of the Columbus commercial real estate market, the Salem Village submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 40 commercial real estate listings have come on the market, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. About 8% of the available commercial real estate space in the Salem Village are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard size for office space in this area is around 500 sqft. Most buildings in this market are close to 2 stories. Most buildings in this region were built around 1974 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Salem Village 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 Salem Village.
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