On average, listings lease in the $10's per square foot per year. The Payne - Phalen submarket is going through a an increase in rates. In the last 3 months, the median rate rose $16 per sqft per year.
In the last 90 days, 6 listings have been made available, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,200 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are approximately 2 stories. Most buildings in this market were built in 1957 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Payne - Phalen folk. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.