The typical asking rate per listing is in the $30's per square foot per year. The Third Ward submarket is going through a decline in rates. In the last 3 months, the median rate fell $6 per sqft per year. That's a 15% decline in rent.
Compared to the rest of the Metrolina market, the Third Ward submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 41 listings have come on the market, so you'll want to check back regularly for new listings. About 10% of the office spaces in the Third Ward are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 5,900 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are around 15 stories. Most buildings in this region were built in 1959 and are Class B.
Real estate is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Third Ward residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.