The typical asking rate per listing is in the $70's per square foot per year. The Lower Nob Hill region is seeing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Bay Area market, the Lower Nob Hill submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 16 listings have been listed, which means office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 56% of the available leases in the Lower Nob Hill are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,260 sqft. Most buildings in this region are around 4 floors. Most buildings in this market were built in 1915 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Most of the occupants of Lower Nob Hill work from home. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.