The typical asking rate per listing is in the $20's per square foot per year. The Asylum Hill submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $23 per sqft per year.
Compared to the rest of the Hartford market, the Asylum Hill submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 4 listings have been posted online, which means listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 25% of the available leases in the Asylum Hill are subleases, so you might be able to snag a great spot on a short term. 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 5,220 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are close to 3 floors. Most buildings in this region were built in 1939 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Asylum Hill residents. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.