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On average, commerial real estate listings lease in the $20's per square foot per year. The Northclift submarket is seeing a an increase in rates. In the last 3 months, the median rate for lease rose $4 per sqft per year. That's a 22% rise in rent.
Compared to the rest of the The Triangle commercial real estate market, the Northclift submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 23 commercial real estate listings have been posted online, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard size for office space in this area is around 900 sqft. Most properties in this area are approximately 2 floors. Most buildings in this region were built around 1981 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Northclift folk. Commuting more than an hour and a half 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 Northclift.
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