The typical asking rate per listing is in the $20's per square foot per year. The Red Mountain region is seeing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 12% decline in rent.
Compared to the rest of the Birmingham market, the Red Mountain region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 118 listings have been made available, so you'll want to check back regularly for new listings. About 9% of the listings in the Red Mountain are subleases, so you will probably have to consider a longer term lease. 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 3,060 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are close to 2 floors. Most buildings in this region were built in 1975 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Red Mountain residents. Commuting between 20 and 25 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 Red Mountain.
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