On average, listings lease in the $10's per square foot per year. The Ithaca submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $20 per sqft per year. That's a 52% decrease in rent.
In the last 90 days, 22 listings have come on the market, which means listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 5% of the listings in the Ithaca are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 4,800 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are approximately 12 stories. Most buildings in this market were built in 1978 and are Class A.
Real time and historical data on commercial real estate listings in Ithaca.
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