On average, listings lease in the $20's per square foot per year. The Fairmount - Art Museum submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Philadelphia market, the Fairmount - Art Museum submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 7 listings have been posted online, which means office spaces are probably going fast. You'll want to be prepared to make an offer immediately. 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 22,430 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are around 12 floors. Most buildings in this area were built in 1937 and are Class A.