On average, listings lease in the $20's per square foot per year. The Martin Luther King submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 8% decline in rent.
In the last 90 days, 3 listings have been listed, which means office spaces 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,570 sqft. Most properties in this region are approximately 12 floors. Most buildings in this market were built in 1940 and are Class B.
A large portion of this market is residential, but there's plenty of office_space. Education is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Martin Luther King occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.