On average, listings lease in the $10's per square foot per year. The Chelsea submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $16 per sqft per year.
Compared to the rest of the Greater Boston market, the Chelsea submarket has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 8 listings have been posted online, which means spaces might be going fast. 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 5,000 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are close to 2 stories. Most buildings in this area were built in 1992 and are Class B.