On average, listings lease in the $60's per square foot per year. The South of Market submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $2 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Bay Area market, the South of Market submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 131 listings have been listed, so you'll want to check back regularly for new listings. About 30% of the available leases in the South of Market are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,130 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are around 3 floors. Most buildings in this market were built in 1923 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Agriculture is the dominant industry in this area. Most of the residents of South of Market work from home. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.