On average, listings lease in the $60's per square foot per year. The South of Market region is experiencing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 7% decrease in rent.
Compared to the rest of the Bay Area market, the South of Market region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 123 listings have been posted online, so you'll want to check back regularly for new listings. About 110% of the available leases in the South of Market are subleases, so you might be able to snag a great spot on a short term. 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 4,000 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are approximately 3 stories. Most buildings in this region were built in 1923 and are Class B.
This market is fairly equally mixed residential and commercial. Agriculture is the dominant industry in this region. Most of the residents of South of Market work from home. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.