On average, listings lease in the $20's per square foot per year. The Downtown Pensacola submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 20% decrease in rent.
In the last 90 days, 32 listings have been listed, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. About 84% of the available leases in the Downtown Pensacola are subleases, so you might be able to find a shorter term or below market rent. 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 2,650 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this area were built in 1946 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Construction is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Downtown Pensacola residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.