The typical asking rate per listing is in the $30's per square foot per year. The Historic Third Ward submarket is going through a a boost in rates. In the last 3 months, the median rate increased $2 per sqft per year. That's a 7% increase in rent.
Compared to the rest of the Milwaukee market, the Historic Third Ward region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 20 listings have been made available, which means listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,320 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are approximately 5 floors. Most buildings in this area were built in 1913 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Utilities is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Historic Third Ward occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.