On average, listings lease in the $30's per square foot per year. The South Philadelphia East region is experiencing a a boost in rates. In the last 3 months, the median rate rose $38 per sqft per year.
Compared to the rest of the Philadelphia market, the South Philadelphia East submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 3 listings have been posted online, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. About 133% of the listings in the South Philadelphia East are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 3,570 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are around 28 stories. Most buildings in this region were built in 1911 and are Class B.