On average, listings lease in the $10's per square foot per year. The Red Mountain submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 27% decline in rent.
Compared to the rest of the Birmingham market, the Red Mountain region has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 8 listings have been posted online, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 8,270 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this region were built in 1976 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 car is the most popular way to get to work amongst Red Mountain occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.