On average, listings lease in the $20's per square foot per year. The Arts District region is seeing a decrease in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 18% decrease in rent.
Compared to the rest of the Oklahoma City market, the Arts District submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 13 listings have been listed, which means listings 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 6,750 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are approximately 5 stories. Most buildings in this area were built in 1948 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Arts District folk. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.