The typical asking rate per listing is in the $20's per square foot per year. The Southwest Raleigh submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 8% decrease in rent.
Compared to the rest of the The Triangle market, the Southwest Raleigh submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 54 listings have been listed, so you'll want to check back regularly for new listings. About 6% of the listings in the Southwest Raleigh are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 4,670 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 3 stories. Most buildings in this area were built in 1998 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Southwest Raleigh occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.