The typical asking rate per listing is in the $20's per square foot per year. The Downtown Albany submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $168 per sqft per year. That's a 89% decrease in rent.
In the last 90 days, 14 listings have been posted online, which means spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 2,660 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are approximately 5 stories. Most buildings in this market were built in 1927 and are Class A.
This market is fairly equally mixed residential and commercial. Waste services is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Downtown Albany folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.