The typical asking rate per listing is in the $20's per square foot per year. The Downtown Cleveland submarket is going through a decrease in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 8% decline in rent.
Compared to the rest of the Cleveland market, the Downtown Cleveland submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 44 listings have come on the market, so you'll want to check back regularly for new listings. About 5% of the available leases in the Downtown Cleveland 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 10,290 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 8 floors. Most buildings in this region were built in 1932 and are Class B.
This region is fairly equally mixed residential and commercial. Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Downtown Cleveland folk. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.