On average, listings lease in the $100's per square foot per year. The South Beach region is experiencing a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 5% decline in rent.
Compared to the rest of the Bay Area market, the South Beach submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 12 listings have been listed, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 25% of the available space in the South Beach 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 3,740 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 3 floors. Most buildings in this region were built in 1920 and are Class C.
A large portion of this area is residential, but there's plenty of office_space. Waste services is the dominant industry in this area. Most of the residents of South Beach work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.