On average, listings lease in the $30's per square foot per year. The Springfield Gardens submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 8% decline in rent.
Compared to the rest of the New York City market, the Springfield Gardens submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 17 listings have been made available, which means new availabilities most likley are leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,290 sqft. Most buildings in this market are approximately 2 floors. Most buildings in this area were built in 1969 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Springfield Gardens occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.