On average, listings lease in the $20's per square foot per year. The Central Baltimore submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $44 per sqft per year. That's a 61% decline in rent.
Compared to the rest of the Greater Baltimore market, the Central Baltimore region has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 6 listings have been posted online, which means listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. 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 5,500 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are close to 6 floors. Most buildings in this region were built in 1950 and are Class A.
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 car is the most popular way to get to work amongst Central Baltimore folk. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.