On average, listings lease in the $10's per square foot per year. The West 1st Street region is seeing a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 15% decline in rent.
In the last 90 days, 1 listings have come on the market, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,000 sqft. Most buildings in this region were built in 1973 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Most of the residents of West 1st Street work from home. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.