On average, listings lease in the $20's per square foot per year. The Central City region is experiencing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 12% decrease in rent.
Compared to the rest of the Birmingham market, the Central City submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 29 listings have been made available, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. About 7% of the listings in the Central City are subleases, so you will probably have to focus your search on direct office leases. 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 3,510 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are approximately 4 floors. Most buildings in this market were built in 1924 and are Class A.
This market is fairly equally mixed residential and commercial. Public administration is the dominant industry in this area. Commute by motorcycle is the most popular way to get to work amongst Central City residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.