The typical asking rate per listing is in the $70's per square foot per year. The Downtown San Mateo region is seeing a a boost in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the Silicon Valley market, the Downtown San Mateo region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 23 listings have been listed, which means leases might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 9% of the office spaces in the Downtown San Mateo 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 posted, so finding a space for a small business might be tough.
Even though the median size is 3,550 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are around 3 floors. Most buildings in this region were built in 1968 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this region. Commute by taxi is the most popular way to get to work amongst Downtown San Mateo folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.