Most listings are in the $30's per square foot per year. The Third Ward region is going through a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the Metrolina market, the Third Ward submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 16 listings have come on the market, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. About 13% of the available space in the Third 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 6,610 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are around 15 floors. Most buildings in this area were built in 1959 and are Class A.
This area is fairly equally mixed residential and commercial. Real estate is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Third Ward occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.