On average, listings lease in the $20's per square foot per year. The Downtown Lynn submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $24 per sqft per year. That's a 53% decrease in rent.
Compared to the rest of the Greater Boston market, the Downtown Lynn submarket has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 4 listings have been posted online, which means office spaces are probably 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.
Even though the median size is 4,840 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are close to 5 floors. Most buildings in this region were built in 1914 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Most of the occupants of Downtown Lynn work from home. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.