On average, listings lease in the $20's per square foot per year. The Downtown West Palm Beach submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 20% decrease in rent.
Compared to the rest of the West Palm Beach market, the Downtown West Palm Beach submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 39 listings have come on the market, which means new listings most likley are leasing quickly. 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.
Even though the median size is 2,600 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are approximately 6 stories. Most buildings in this market were built in 1982 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Utilities is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Downtown West Palm Beach occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.