Most listings are in the $40's per square foot per year. The Central Raleigh submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $7 per sqft per year. That's a 18% rise in rent.
Compared to the rest of the The Triangle market, the Central Raleigh submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 40 listings have been posted online, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 83% of the listings in the Central Raleigh are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,730 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are approximately 2 stories. Most buildings in this area were built in 1930 and are Class A.
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 walking is the most popular way to get to work amongst Central Raleigh residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.