The typical asking rate per listing is in the $20's per square foot per year. The First Ward region is seeing a decrease in rates. In the last 3 months, the median rate fell $0 per sqft per year. That's a 2% decrease in rent.
In the last 90 days, 9 listings have been posted online, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 11% of the listings in the First Ward 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 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 1,200 sqft. Most buildings in this market are approximately 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 area. Commute by walking is the most popular way to get to work amongst First Ward occupants. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.