The typical asking rate per listing is in the $20's per square foot per year. The Martin Luther King submarket is going through a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 8% decline in rent.
In the last 90 days, 3 listings have come on the market, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,570 sqft. Most properties in this market are close to 12 stories. Most buildings in this area were built in 1940 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Education is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Martin Luther King occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.