Most listings are in the $70's per square foot per year. The Downtown San Mateo region is seeing a an increase in rates. In the last 3 months, the median rate rose $7 per sqft per year. That's a 10% rise in rent.
Compared to the rest of the Silicon Valley market, the Downtown San Mateo submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 35 listings have been listed, which means listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 74% of the available space in the Downtown San Mateo 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 available, so finding a space for a small business might be tough.
Even though the median size is 4,200 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are approximately 3 stories. Most buildings in this market 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 market. Commute by taxi is the most popular way to get to work amongst Downtown San Mateo occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.