On average, listings lease in the $20's per square foot per year. The Springlake-University Terrace submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 5% decline in rent.
In the last 90 days, 1 listings have come on the market, which means new listings might be 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.
Even though the median size is 3,000 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are approximately 1 floors. Most buildings in this market were built in 0 and are Class Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Springlake-University Terrace residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.