Melville Industrial

Melville

Office Space Market Report

Number of Listings (last 90 days)
30
Median Rate ($/sqft/yr)
$32
Median Size (sqft)
4,230
As of: February 24, 2017

Melville Rates

On average, listings lease in the $30's per square foot per year. The Melville submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 8% decrease in rent.

Melville Listing Supply

In the last 90 days, 29 listings have been made available, which means new availabilities might be going fast. You'll want to be prepared to make an offer immediately. About 17% of the listings in the Melville 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 posted, so finding a space for a small business might be tough.

Even though the median size is 3,670 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 3 stories. Most buildings in this market were built in 1980 and are Class A.

Melville Community

A large portion of this area is residential, but there's plenty of office_space. Education is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Melville residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Melville.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Melville.
Research

Melville Submarkets