The typical asking rate per listing is in the $20's per square foot per year. The Downtown Chattanooga submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 14% decrease in rent.
In the last 90 days, 6 listings have been listed, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 33% of the available space in the Downtown Chattanooga are subleases, so you might be able to find a shorter term or below market rent. 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 11,980 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are around 3 stories. Most buildings in this market were built in 1900 and are Class Class A.
A large portion of this market is residential, but there's plenty of office_space. Waste services is the dominant industry in this area. Most of the occupants of Downtown Chattanooga work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.