On average, listings lease in the $10's per square foot per year. The Salem Village region is experiencing a an increase in rates. In the last 3 months, the median rate increased $15 per sqft per year.
Compared to the rest of the Columbus market, the Salem Village region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 40 listings have been made available, which means listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 5% of the listings in the Salem Village are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 500 sqft. Most buildings in this area are approximately 2 stories. Most buildings in this area were built in 1973 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Salem Village occupants. Commuting between 30 and 45 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 Salem Village.
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