The typical asking rate per listing is in the $20's per square foot per year. The Central City region is going through a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 6% decline in rent.
Compared to the rest of the Birmingham market, the Central City region has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 28 listings have been posted online, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 7% of the office spaces in the Central City are subleases, so you will probably have to focus your search on direct office leases. 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 3,500 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are around 4 floors. Most buildings in this area were built in 1924 and are Class A.
This area is fairly equally mixed residential and commercial. Public administration is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Central City folk. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.