Most listings are in the $60's per square foot per year. The Downtown San Mateo submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $12 per sqft per year. That's a 21% rise in rent.
Compared to the rest of the Silicon Valley market, the Downtown San Mateo submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 18 listings have come on the market, which means listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 6% of the office spaces in the Downtown San Mateo are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,780 sqft. Most buildings in this region are close to 3 stories. Most buildings in this area were built in 1974 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 occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.