The typical asking rate per listing is in the $50's per square foot per year. The South Park submarket is going through a decrease in rates. In the last 3 months, the median rate fell $37 per sqft per year. That's a 42% decline in rent.
Compared to the rest of the Bay Area market, the South Park submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 6 listings have been posted online, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the listings in the South Park 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 3,530 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are approximately 2 stories. Most buildings in this market were built in 1920 and are Class C.
A large portion of this region is residential, but there's plenty of office_space. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by car is the most popular way to get to work amongst South Park occupants. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.