On average, listings lease in the $30's per square foot per year. The Springfield Gardens region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 4% decrease in rent.
Compared to the rest of the New York City market, the Springfield Gardens submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 16 listings have been posted online, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 13% of the office spaces in the Springfield Gardens are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,110 sqft. Most properties in this area are close to 2 floors. Most buildings in this region were built in 1969 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Springfield Gardens occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.