The typical asking rate per listing is in the $30's per square foot per year. The Fourth Ward submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the Metrolina market, the Fourth Ward region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 8 listings have been made available, which means new availabilities most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 75% of the office spaces in the Fourth Ward 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 available, so finding a space for a small business might be tough.
Even though the median size is 5,620 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are approximately 8 floors. Most buildings in this area were built in 1991 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Fourth Ward residents. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.