On average, listings lease in the $20's per square foot per year. The Red Mountain region is experiencing a a rise in rates. In the last 3 months, the median rate rose $8 per sqft per year. That's a 40% increase in rent.
Compared to the rest of the Birmingham market, the Red Mountain region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 8 listings have been made available, which means new listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 263% of the available space in the Red Mountain are subleases, so you might be able to find a shorter term or below market rent. 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 4,250 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are around 2 stories. Most buildings in this region were built in 1975 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 folk. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.