The typical asking rate per listing is in the $30's per square foot per year. The St. Johns submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decrease in rent.
Compared to the rest of the Greater Austin market, the St. Johns submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 76 listings have come on the market, so you'll want to check back regularly for new listings. About 24% of the office spaces in the St. Johns are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,240 sqft. Most buildings in this area are close to 3 floors. Most buildings in this market were built in 1974 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Commute by car is the most popular way to get to work amongst St. Johns residents. Commuting around 20 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 St. Johns.
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