The typical asking rate per listing is in the $20's per square foot per year. The First Ward region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 11% decline in rent.
In the last 90 days, 16 listings have been made available, which means spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 63% of the listings in the First Ward 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.
The standard measurement for office space in this area is around 1,840 sqft. Most buildings in this area are around 2 stories. Most buildings in this market were built in 1975 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst First Ward occupants. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.