The typical asking rate per listing is in the $10's per square foot per year. The Mount Vernon submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $18 per sqft per year.
Compared to the rest of the Greater Baltimore market, the Mount Vernon region has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 34 listings have been posted online, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 3% of the office spaces in the Mount Vernon 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 available, so finding a space for a small business might be tough.
Even though the median size is 3,500 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are approximately 3 floors. Most buildings in this market were built in 1912 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Mount Vernon folk. Commuting around 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 Mount Vernon.
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