On average, listings lease in the $20's per square foot per year. The The Highlands region is seeing a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 18% decline in rent.
Compared to the rest of the Louisville market, the The Highlands region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 3 listings have been posted online, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 2,560 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are close to 2 floors. Most buildings in this area were built in 1895 and are Class Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Most of the folk of The Highlands work from home. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.