On average, listings lease in the $10's per square foot per year. The Riverside submarket is going through a decline in rates. In the last 3 months, the median rate decreased $13 per sqft per year. That's a 44% decline in rent.
Compared to the rest of the Cleveland market, the Riverside submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 2 listings have been listed, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. 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 15,840 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are approximately 1 stories. Most buildings in this market were built in 1998 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this region. Commute by taxi is the most popular way to get to work amongst Riverside residents. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.