On average, listings lease in the $20's per square foot per year. The Central City submarket is going through a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 12% decline in rent.
Compared to the rest of the Birmingham market, the Central City submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 29 listings have come on the market, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 7% of the available space in the Central City 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 posted, so finding a space for a small business might be tough.
Even though the median size is 3,510 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are approximately 4 floors. Most buildings in this area were built in 1924 and are Class A.
This area is fairly equally mixed residential and commercial. Public administration is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Central City occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.