The typical asking rate per listing is in the $30's per square foot per year. The Central City submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $8 per sqft per year. That's a 34% rise in rent.
Compared to the rest of the Birmingham market, the Central City region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 29 listings have been listed, which means office spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 3% of the listings in the Central City are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 7,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are close to 4 stories. Most buildings in this area were built in 1924 and are Class A.
This region is fairly equally mixed residential and commercial. Public administration is the dominant industry in this area. Commute by motorcycle is the most popular way to get to work amongst Central City residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.