On average, listings lease in the $20's per square foot per year. The Downtown Springfield region is seeing a a rise in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 5% increase in rent.
In the last 90 days, 14 listings have come on the market, which means new listings 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 posted, so finding a space for a small business might be tough.
Even though the median size is 3,650 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are around 3 stories. Most buildings in this market were built in 1914 and are Class A.
This area is fairly equally mixed residential and commercial. Public administration is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Downtown Springfield residents. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.