The typical asking rate per listing is in the $0's per square foot per year. The Downtown Elizabeth region is experiencing a decline in rates. In the last 3 months, the median rate decreased $25 per sqft per year. That's a 100% decrease in rent.
In the last 90 days, 5 listings have been listed, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 7,700 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are approximately 3 stories. Most buildings in this market were built in 1971 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this market. Most of the folk of Downtown Elizabeth work from home. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.