On average, listings lease in the $60's per square foot per year. The South of Market submarket is going through a decline in rates. In the last 3 months, the median rate decreased $10 per sqft per year. That's a 13% decrease in rent.
Compared to the rest of the Bay Area market, the South of Market submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 123 listings have been posted online, so you'll want to check back regularly for new listings. About 19% of the available space in the South of Market 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 posted, so finding a space for a small business might be tough.
Even though the median size is 5,340 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are approximately 3 stories. Most buildings in this market were built in 1923 and are Class B.
This market is fairly equally mixed residential and commercial. Agriculture is the dominant industry in this area. Most of the residents of South of Market work from home. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.