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 decreased $75 per sqft per year. That's a 59% decrease in rent.
Compared to the rest of the Bay Area market, the South Park submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 5 listings have been listed, which means office spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 60% of the office spaces 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 available, so finding a space for a small business might be tough.
Even though the median size is 5,000 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are around 2 stories. Most buildings in this area were built in 1920 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this region. Commute by car is the most popular way to get to work amongst South Park residents. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.