Most listings are in the $70's per square foot per year. The Downtown San Mateo submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $7 per sqft per year. That's a 10% increase in rent.
Compared to the rest of the Silicon Valley market, the Downtown San Mateo submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 35 listings have been made available, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 40% of the available space in the Downtown San Mateo 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 9,110 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are approximately 3 floors. Most buildings in this area were built in 1967 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this region. Commute by taxi is the most popular way to get to work amongst Downtown San Mateo residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.