The typical asking rate per listing is in the $20's per square foot per year. The Downtown Durham submarket is seeing a decline in rates. In the last 3 months, the median rate fell $12 per sqft per year. That's a 33% decrease in rent.
Compared to the rest of the The Triangle market, the Downtown Durham region has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 9 listings have been made available, which means new listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,130 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are around 7 floors. Most buildings in this market were built in 1926 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Real estate is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Downtown Durham residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.