The typical asking rate per listing is in the $20's per square foot per year. The Owen Brown submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Greater Baltimore market, the Owen Brown submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 7 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 14% of the office spaces in the Owen Brown are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 3,850 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are approximately 3 stories. Most buildings in this area were built in 1986 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Owen Brown residents. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.