Most listings are in the $30's per square foot per year. The Central Raleigh submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the The Triangle market, the Central Raleigh region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 40 listings have been made available, which means listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 3% of the available leases in the Central Raleigh are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 2,880 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are approximately 2 floors. Most buildings in this area were built in 1935 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Central Raleigh occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.