The typical asking rate per listing is in the $20's per square foot per year. The Historic Third Ward submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $25 per sqft per year.
Compared to the rest of the Milwaukee market, the Historic Third Ward region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 19 listings have come on the market, which means leases are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 79% of the listings in the Historic Third Ward 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 available, so finding a space for a small business might be tough.
Even though the median size is 8,360 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this region are approximately 5 floors. Most buildings in this region were built in 1915 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Utilities is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Historic Third Ward occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.