On average, listings lease in the $20's per square foot per year. The North Philadelphia submarket is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Philadelphia market, the North Philadelphia submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 279 listings have been posted online, so you'll want to check back regularly for new listings. About 15% of the available leases in the North Philadelphia are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 31,400 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are around 3 floors. Most buildings in this market were built in 1937 and are Class B.
Real time and historical data on commercial real estate listings in North Philadelphia.
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