Most listings are in the $20's per square foot per year. The Downtown Cleveland region is seeing a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 18% decline in rent.
Compared to the rest of the Cleveland market, the Downtown Cleveland submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 785 listings have come on the market, so you'll want to check back regularly for new listings. About 11% of the available leases in the Downtown Cleveland are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 8,200 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are approximately 8 stories. Most buildings in this region were built in 1931 and are Class B.
This region is fairly equally mixed residential and commercial. Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Downtown Cleveland folk. Commuting around 20 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 Downtown Cleveland.
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