The typical asking rate per listing is in the $70's per square foot per year. The Downtown San Mateo submarket is going through a an increase in rates. In the last 3 months, the median rate rose $7 per sqft per year. That's a 10% increase in rent.
Compared to the rest of the Silicon Valley market, the Downtown San Mateo submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 35 listings have been made available, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 51% of the office spaces in the Downtown San Mateo 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 5,500 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are close to 3 floors. Most buildings in this region were built in 1968 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Downtown San Mateo residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.