On average, listings lease in the $10's per square foot per year. The Historic Third Ward submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 18% decrease in rent.
Compared to the rest of the Milwaukee market, the Historic Third Ward submarket has lower rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 19 listings have been posted online, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the available space 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 4,640 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 5 floors. Most buildings in this region were built in 1913 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Utilities is the dominant industry in this region. 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.